Fiji Airways is in the process of repaying a $75 million loan from the Fiji Development Bank (FDB) that was part of a broader government effort to support the national airline during the COVID-19 pandemic. During a presentation to the Parliamentary Standing Committee on Economic Affairs, the acting CEO of FDB, Titilia Kamil, announced that the airline has recently started making payments on both the principal and interest related to the loan.
Kamil confirmed that Fiji Airways had indeed received substantial assistance during the challenging times of the pandemic, and although the loan has not yet been fully repaid, progress is being made. She emphasized that the airline has consistently submitted its audited reports in compliance with regulations.
This loan forms part of a much larger government-backed funding scheme from 2020, where Fiji Airways was granted a total of $455 million—comprising loans from various financial institutions, including the Fiji National Provident Fund, the Asian Development Bank, and others. Notably, the repayment term for these loans may extend up to 15 years, as previously stated by former attorney-general Aiyaz Sayed-Khaiyum.
The situation illustrates the ongoing commitment of Fiji Airways to recover from the impacts of the pandemic, demonstrating gradual financial rehabilitation and responsible management of its obligations.
This news carries an optimistic tone, signaling that Fiji Airways is taking steps toward financial recovery and accountability, which could lead to a stronger and more resilient airline sector in the future.
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