Fiji Airways has achieved a historic milestone, reporting an unprecedented operating revenue of $1.8 billion for the year 2023. This achievement was detailed in the company’s Annual Report, which was presented in Parliament last week.
Nalin Patel, the Chairperson of Fiji Airways, stated that this figure represents the highest earnings in the airline’s 70-year history. The airline recorded an operational profit of $113.2 million, marking a significant recovery from a loss of $175 million in the previous year, 2022.
Patel emphasized that Fiji Airways has played a crucial role in Fiji’s economic development, highlighting that the airline transports up to 70 percent of all visitors to the country and substantially contributes to Fiji’s Gross Domestic Product. In 2023, the airline also celebrated a landmark achievement by carrying 2.2 million passengers, exceeding the 2 million milestone for the first time.
The Chairperson noted that the strong financial results reflect the airline’s strategic initiatives and resilience. However, he warned that 2024 is expected to pose challenges, with increasing competition in the aviation industry and economic uncertainties in key markets. Patel outlined concerns such as geopolitical tensions, rising operational costs due to fluctuating fuel prices and ongoing inflation, and the impact of a stronger US dollar on operations, indicating that the upcoming year will differ significantly from 2023.