Air Pacific returns to profit

Air Pacific, the national airline of Fiji, has achieved a significant milestone in its transformation plan, posting a return to profit for the first time in three years, with its financial results for the fiscal year ended 31 March 2012. Despite a challenging aviation market over the last 12 months, Air Pacific Ltd. and Air Pacific Group both reported operating profits combined with a significant increase in passenger numbers and revenue. Air Pacific Ltd. reported an operating profit of $16.5m, compared to an operating loss of $3.7m for the previous financial year, Air Pacific Group reported an operating profit of $13.4m, compared to an operating loss of $4.3m for the previous financial year. (Air Pacific Group includes the national airline, its wholly owned subsidiary Pacific Sun, and a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island). Air Pacific also record its highest ever revenue of $645.9m, an increase of $90.5m in passenger revenue over FY2010/2011 and an increase of $130m compared to FY2009/2010. (All amounts are in Fijian dollars)