Fiji Airways losses finally revealed in Parliament
Peter paying Paul as Sayed-Khaiyum says airline ‘smart investment’
State controlled Fiji Airways has lost 73 percent of its value since 2019, Fiji’s Minister of Most Things, Aiyaz Sayed-Khaiyum has told the final session of Parliament before general elections.
Taxpayers from Fiji, Kiribati, Nauru, Samoa and Tonga have lost around F$225 million (US$101m) since 2019 on the airline.
In odd remarks, Sayed-Khaiyum said the collapse in value meant that buying into the ailing airline was ‘a smart investment’. He revealed the airlines’ ‘share price’, but without saying that the airline shares are not publicly traded.
The International Monetary Fund, in a recent report, noted that Fiji Airways has not provided an audited annual report since 2019 and ruefully adds that the airline does not post annual reports on the Internet.
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