Air Pacific has returned to profit for the first time in three years, with chief executive Dave Pflieger confident about the future, despite a challenging aviation outlook.
Air Pacific Ltd reported an operating profit of $16.5 million (AU$9.08 million) compared with an operating loss of $3.7 million (AU$2.03 million) for the previous financial year. The airline recorded its highest ever revenue of $645.9 million (AU$65.48 million) for the year, with passenger numbers up 85,000.
Group operating profits including the airline, wholly owned subsidiary Pacific Sun and a 38.75% stake in the Sofitel Fiji Resort and Spa, totalled $13.4 million (AU$7.37 million) compared with an operating loss of $4.3 million (AU$2.36 million) the previous year.
“We aren’t done yet,” Pflieger told Travel Today. “These results show that our turnaround strategy is working but there’s still a fair amount of work ahead of us.”
He admitted a spike in fuel prices or changing market conditions could impact the carrier’s recovery.
In addition, the delivery of three new Airbus A330-200 in 2013 was likely to pose some challenges. “It’s no easy feat to integrate brand new aircraft,” he said.
The new aircraft will coincide with the airline with airline’s rebrand as Fiji Airways, reverting to its former name to highlight its role as Fiji’s national carrier.
Pflieger reported an “overwhelmingly positive” reaction to the rebrand, particularly from staff who had been with the airline for a long time.
Meanwhile, chairman of the airline’s board of directors Nalin Patel described the results as a “remarkable feat” particularly when other airlines are “struggling”.
“The fact that we managed to return the airline to an operating profit only two years after we experienced the biggest loss in our history speaks volumes about the experience and capability of our new management team and the soundness of their turnaround plan,” he said.
