\t\t\tFiji Airways reports a loss of $25M in 2024, primarily due to unrealised foreign exchange losses<\/p>\n
\nThe Fiji Airways Group
\nreported a loss after income tax of $25 million in 2024, primarily
\ndue to unrealised foreign exchange losses of $83.5 million on
\nUSD-denominated lease obligations following the strengthening of the
\nUS Dollar.<\/p>\n
The
\nadjustments are non-cash and required under international accounting
\nstandards.<\/p>\n
They
\nsay the overall profitability was affected by significant global
\ncurrency movements.<\/p>\n
Fiji
\nAirways says despite these impacts, as at 31st December 2024, the
\ncompany maintained a strong cash position of $375.2 million,
\nsupported by $2.1 billion in operating receipts.<\/p>\n
They
\nadd cash reserves, liquidity, and fleet strength continue to provide
\na solid foundation for the airline’s future financial resilience.<\/p>\n
The
\nairline further reduced its debt portfolio, strengthening balance
\nsheet resilience and liquidity, with more than 95 percent of
\nborrowings sourced from local financial institutions as at the end of
\n2024.<\/p>\n
For
\nthe period, Fiji Airways says it produced another year of strong
\nnetwork performance, fleet investments, and continued global
\nrecognition.<\/p>\n
The
\nairline reported record operating revenue of $1.85 billion and
\ncarried 2.3 million passengers, the highest in its history.<\/p>\n
Despite
\nintense trans-Pacific competition, rising operating costs, and
\nforeign exchange pressures, Fiji Airways maintained strong liquidity,
\nexpanded its global footprint, and continued major investments in
\nfleet, training, and local talent development.<\/p>\n
The
\ncompany says the 2024 performance has
\nhelped strengthen a more resilient Fiji Airways.<\/p>\n
The
\nyear was marked by challenges such as cost of living pressures,
\nlimited growth in hotel room stock, strong competition from
\nalternative destinations and, more recently, a fuel cost and supply
\ncrisis.<\/p>\n
In
\n2024, the airline launched its Dallas-Fort Worth route, Fiji\u2019s
\nlongest service and third gateway to the U.S., while also introducing
\nnew services and increased flight frequencies across Australia.<\/p>\n
The
\ncompany says operational performance remained strong, with
\nimprovements in on-time performance and expanded digital service
\noptions for customers.<\/p>\n
Fiji
\nAirways adds it completed its full transition to the oneworld
\nalliance in April 2025 and strengthened partnerships with key airline
\npartners, including American Airlines, Qantas, and Cathay Pacific.<\/p>\n
The
\nairline further expanded its global reach through new interline
\nagreements with China Airlines and Porter Airlines, enhancing travel
\noptions for passengers.<\/p>\n
Fiji
\nAirways says it now operates 23 aircraft, including additional ATR
\n72-600s to support domestic and regional reliability.<\/p>\n
Major
\nupgrades to the Fiji Airways Aviation Academy were also completed,
\nincluding the installation of new A350 and ATR full-flight
\nsimulators, reducing the need for overseas training and expanding
\npilot and engineer development pathways.<\/p>\n
The
\nairline has reported a workforce of 2,228 employees, with 90 percent
\nlocal Fijian representation and women comprising 43 percent of the
\nworkforce.<\/p>\n
Fiji
\nAirways continued to receive top-tier global awards, including Best
\nAirline in Australia and the Pacific – Skytrax World Airline Awards
\n2024, Best Economy Class in Australia and the Pacific – Skytrax 2024,
\nBest Business Class Onboard Catering in Australia and the Pacific –
\nSkytrax 2024, Best Airline Staff Service in Australia and the Pacific
\n– Skytrax 2024, APEX Five-Star Major Airline Rating 2024, APEX
\nPassenger Choice Award 2024 for Best Entertainment in the South
\nPacific, and Oceania\u2019s Leading Airline Lounge – World Travel Awards
\n2024.<\/p>\n
Board
\nChair, Nalin Patel says these awards reaffirm the dedication of their
\npeople, who consistently go above and beyond to deliver the warm
\nhospitality that Fiji is known for.<\/p>\n
The
\nairline also highlighted several sustainability initiatives,
\nemphasizing that transformation does not happen overnight but is
\nachieved through steady, meaningful progress, initiative by
\ninitiative, under its sustainability framework: Maroroya.<\/p>\n
The
\nkey initiatives include the introduction of electric ground power
\nunits and tugs, onboard recycling of plastic bottles, the \u201cEvery
\nTakeoff, One Tree\u201d program, and the expansion of low-waste inflight
\npractices, all reflecting Fiji Airways\u2019 commitment to reducing its
\nenvironmental impact.<\/p>\n
Looking ahead Fiji Airways expects global market conditions to remain dynamic
\nin 2025, with ongoing competition and cost volatility across the
\naviation sector.<\/p>\n
Given
\nthe recent spike in jet fuel prices driven by the conflict in the
\nMiddle East, the airline will continue to closely monitor
\ndevelopments and take a prudent approach to capacity deployment, cost
\nmanagement, and network planning, while maintaining a strong focus on
\nservice quality and operational resilience.<\/p>\n
Patel
\nsays their team continues to demonstrate resilience and
\nprofessionalism in a highly competitive global aviation environment.<\/p>\n
The
\nFiji Airways Annual Report for the year ended 31 December 2024 has
\nbeen tabled in Parliament and the results are now publicly available.<\/p>\n
The
\ncompany also acknowledges the delay and they understand their results
\nof great interest to the people of Fiji.\n<\/p>\n
The
\n2025 results are currently under audit and these results will be made
\npublicly available in a timely manner.<\/p>\n","protected":false},"excerpt":{"rendered":"Fiji Airways reports a loss of $25M in 2024, primarily due to unrealised foreign exchange losses The Fiji…\n","protected":false},"author":2,"featured_media":354610,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[138,84157,111,139,69],"class_list":["post-354609","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-fiji-airways","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/354609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=354609"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/354609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/354610"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=354609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=354609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=354609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}