The Civil Aviation Authority of Fiji (CAAF) has reported a notable increase in total remuneration for its key management personnel, with figures reaching $1.09 million in 2024, compared to $763,824 in the previous year. This information was disclosed in the Authority’s 2024 Annual Report, which was recently presented in Parliament. The key management team includes CEO Theresa Levestam and various executive managers responsible for pivotal areas such as air safety, ground safety, aviation security, facilitation, standards, and corporate services.
The report also highlights that the remuneration for the year amounted to $996,472, alongside an increase in the FNPF employer contribution to $97,542, aligning with the 10 percent rate that came into effect in January 2024. CAAF indicated that these increases were reflective of expanded operational responsibilities and performance-based adjustments, reinforcing the Authority’s commitment to governance and accountability.
In a positive turn, CAAF reported a net surplus of $3.8 million for the year 2024, a significant recovery from the $617,359 deficit registered in 2023. This turnaround was largely driven by a surge in total income, which more than doubled to $13.51 million, attributed in part to a government grant accounting for 53.79 percent of the total revenue. The surplus underscores CAAF’s dedication to sound fiscal management and the strategic timing of capital investments to bolster future growth.
Total expenses for the Authority rose from $7.26 million to $9.71 million, primarily due to organizational expansion and increased project activities; however, revenue growth outstripped expense growth, resulting in a healthy surplus. Furthermore, CAAF’s total assets increased to $29.99 million, while liabilities remained manageable at $2.09 million, indicating ongoing financial stability and liquidity.
CAAF has also embarked on significant capital investments, including new IT equipment, multifunction printers, and the procurement of four new vehicles set for delivery in early 2025. A major roof replacement project commenced in December and is expected to be completed early in the new year. These investments are vital for ensuring that CAAF effectively meets the aviation safety and operational standards required for Fiji.
Additionally, departure tax revenue contributed significantly, making up 29.18 percent of total income, showcasing an upturn in international travel and passenger movements. The 2024 surplus is partially linked to committed projects that have not yet been paid for, ensuring that funds remain aligned with CAAF’s future operational priorities and infrastructure needs.
Overall, the financial improvements and strategic investments by CAAF signal a progressive outlook for Fiji’s aviation sector, showcasing resilience and an ongoing commitment to safety, operational excellence, and growth. With such positive developments, CAAF is well-positioned to enhance its services and impact on the aviation landscape in the region.
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