FNPF corrects its earlier comments about the moratorium period provided to Fiji Airways for its loan facility

The Fiji National Provident Fund has corrected its earlier statement about the moratorium period provided to Fiji Airways for its loan facility.

FNPF is now saying the moratorium period is for previous loans given to Fiji Airways and not the $53.6 million loan given earlier this year.

FNPF had provided a loan facility of $181.2 million to Fiji Airways in 2013 for the purchase of the new A330s.

The Fund says this moratorium was on interest and airline company is still paying its principal repayment.

It says for the $53.6 million loan, Fiji Airways is paying principal and interest.

FNPF’s CEO, Jaoji Koroi says for previous existing facilities, FNPF has offered moratorium on principal and Fiji Airways continues to pay interest.

In a press conference yesterday, Koroi had stated that Fiji Airways has applied for a moratorium period on interest for their $53 million loan which they took earlier this year.

The FNPF has apologised to Fiji Airways for any inconvenience.