Suva, June 03: Fiji's international carrier Air Pacific said today its profit had risen 160 per cent in the year to March. But in a statement the company warned it would be difficult to produce a similar result in the current year and warned tourist arrivals had fallen six per cent already.
The airline said its profit to March 2003 had been 25.1 million Fiji (13.4 million US) dollars against 9.7 million dollars a year earlier. Chairman Gerald Barrack said Fiji had experienced a near record 3,98,000 tourist arrivals in the area and as the principal carrier air pacific had taken a big share in that.
He said the results had been lifted by the leasing of a Boeing 737 to Australian carrier Qantas for use in New Zealand, and "a significant short term increase in tourist arrivals after the tragic events in Bali."
But managing director John Campbell said SARS and terrorism were dampening tourist demand and arrivals in Fiji were already down six per cent. This had come as the airline added two Boeing 747s to its fleet.
"Cost pressure was very significant and with a softening revenue base it would be difficult to match the results experienced in 2002-03," Campbell said.
Qantas owns 46 per cent of Air Pacific, the Fiji government 51 per cent and the balance is owned by several smaller Pacific states.