Government receives $45M dividend from Airports Fiji Limited

Airports Fiji Limited has today announced a record and unprecedented dividend of $45 million to the Government.

This has surpassed the earlier record dividend of $30 million declared last year.

In 2016, AFL made a net profit before tax of $65.86 million.

AFL’s Executive Chairman Faiz Khan says the $45 million dividend is declared based on the strength of AFL’s cash position and balance sheet.

Khan says that one of the key factors contributing to AFL’s strong balance sheet is the revenue restructure undertaken in the last 4 years.

He says that they have also successfully built infrastructure that provides them good value and enhances their abilities to service excellence for customers.

Khan says they believe that a good spend on infrastructure is an asset whilst poor spending results in liabilities.

He says only 5 years ago AFL was declaring token dividends of only $1 million a year.

The AFL Executive Chairman says the achievement of declaring $45 million this year is commendable.

He says it is attributable to team work and equitable relationships that they have built with ovarious stakeholders.

Khan also says that whilst the Board and management drive and strive for results, none of this is possible without the support and vision of Government.

He says Attorney General Aiyaz Sayed-Khaiyum has been personally involved in the design and theming of the Nadi Airport Terminal.

Khan says Sayed-Khaiyum challenges them to strive and improve every time he visits AFL.

He says their service standards, the cleanliness of the terminal, the success of infrastructure delivery are driven by such vision that they help implement.

Khan asked Sayed-Khaiyum to keep challenging them.

While receiving the dividend cheque, Acting Prime Minister Aiyaz Sayed-Khaiyum said that revenue increased because people are paying more for rental at the airport amongst other things.

He says the duty free outlets at Nadi International Airport in the past were not paying anywhere close to what they should have been paying.

Sayed-Khaiyum says if you go anywhere in the world, airport rental is premium rental because they have a captive audience.

He also thanked the AFL board, management and staff for the record result.

Sayed-Khaiyum also says Rotuma Airport is being upgraded at a cost of $13 million.

They are also planning to extend the Taveuni Airport runway and work on the installation of the night lights at Labasa Airport is currently underway.

He confirms that they are also planning to extend Nausori Airport.