The Fiji Airways Group reported a loss after income tax of $25 million in 2024, primarily due to unrealised foreign exchange losses of $83.5 million on USD-denominated lease obligations following the strengthening of the US Dollar.
The adjustments are non-cash and required under international accounting standards.
They say the overall profitability was affected by significant global currency movements.
Fiji Airways says despite these impacts, as at 31st December 2024, the company maintained a strong cash position of $375.2 million, supported by $2.1 billion in operating receipts.
They add cash reserves, liquidity, and fleet strength continue to provide a solid foundation for the airline's future financial resilience.
The airline further reduced its debt portfolio, strengthening balance sheet resilience and liquidity, with more than 95 percent of borrowings sourced from local financial institutions as at the end of 2024.
For the period, Fiji Airways says it produced another year of strong network performance, fleet investments, and continued global recognition.
The airline reported record operating revenue of $1.85 billion and carried 2.3 million passengers, the highest in its history.
Despite intense trans-Pacific competition, rising operating costs, and foreign exchange pressures, Fiji Airways maintained strong liquidity, expanded its global footprint, and continued major investments in fleet, training, and local talent development.
The company says the 2024 performance has helped strengthen a more resilient Fiji Airways.
The year was marked by challenges such as cost of living pressures, limited growth in hotel room stock, strong competition from alternative destinations and, more recently, a fuel cost and supply crisis.
In 2024, the airline launched its Dallas-Fort Worth route, Fiji’s longest service and third gateway to the U.S., while also introducing new services and increased flight frequencies across Australia.
The company says operational performance remained strong, with improvements in on-time performance and expanded digital service options for customers.
Fiji Airways adds it completed its full transition to the oneworld alliance in April 2025 and strengthened partnerships with key airline partners, including American Airlines, Qantas, and Cathay Pacific.
The airline further expanded its global reach through new interline agreements with China Airlines and Porter Airlines, enhancing travel options for passengers.
Fiji Airways says it now operates 23 aircraft, including additional ATR 72-600s to support domestic and regional reliability.
Major upgrades to the Fiji Airways Aviation Academy were also completed, including the installation of new A350 and ATR full-flight simulators, reducing the need for overseas training and expanding pilot and engineer development pathways.
The airline has reported a workforce of 2,228 employees, with 90 percent local Fijian representation and women comprising 43 percent of the workforce.
Fiji Airways continued to receive top-tier global awards, including Best Airline in Australia and the Pacific - Skytrax World Airline Awards 2024, Best Economy Class in Australia and the Pacific - Skytrax 2024, Best Business Class Onboard Catering in Australia and the Pacific - Skytrax 2024, Best Airline Staff Service in Australia and the Pacific - Skytrax 2024, APEX Five-Star Major Airline Rating 2024, APEX Passenger Choice Award 2024 for Best Entertainment in the South Pacific, and Oceania’s Leading Airline Lounge - World Travel Awards 2024.
Board Chair, Nalin Patel says these awards reaffirm the dedication of their people, who consistently go above and beyond to deliver the warm hospitality that Fiji is known for.
The airline also highlighted several sustainability initiatives, emphasizing that transformation does not happen overnight but is achieved through steady, meaningful progress, initiative by initiative, under its sustainability framework: Maroroya.
The key initiatives include the introduction of electric ground power units and tugs, onboard recycling of plastic bottles, the “Every Takeoff, One Tree” program, and the expansion of low-waste inflight practices, all reflecting Fiji Airways’ commitment to reducing its environmental impact.
Looking ahead Fiji Airways expects global market conditions to remain dynamic in 2025, with ongoing competition and cost volatility across the aviation sector.
Given the recent spike in jet fuel prices driven by the conflict in the Middle East, the airline will continue to closely monitor developments and take a prudent approach to capacity deployment, cost management, and network planning, while maintaining a strong focus on service quality and operational resilience.
Patel says their team continues to demonstrate resilience and professionalism in a highly competitive global aviation environment.
The Fiji Airways Annual Report for the year ended 31 December 2024 has been tabled in Parliament and the results are now publicly available.
The company also acknowledges the delay and they understand their results of great interest to the people of Fiji.
The 2025 results are currently under audit and these results will be made publicly available in a timely manner.
