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Only one local airport is making a profit

 

Aug 17, 2021 02:23:29 PM

Only one local airport is making a profit Only one out of the thirteen domestic airports in the country is making a profit.

Standing Committee of Public Accounts Chairman Alvick Maharaj said apart from the Labasa Airport, the other twelve domestic airports are just a social responsibility for Fiji Airports Limited.

Maharaj said a total of 15 airports altogether operate in Fiji and  this include the two international airports in Nadi and Nausori.

“Fiji Airports Limited total profit for the financial year ended 2018 stands at $79,212,882 compared to $80,186,413 in 2017,” he said.

“The net profit increased by $300,814 in 2018 compared to 2017. This was mainly due to the increase in revenue generated mostly by landing and parking fees.

“Landing and parking fees for international airports increased by 19 percent and domestic by 11 percent. Also, net assets increased by $185,342,915 in 2018,” he said.

He said this was attributed to an independent valuation carried out by a registered valuer for the buildings, infrastructure, plant and equipment thus increasing the value of property.

By Nacanieli Tuilevuka

 

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