Fiji Airways bags government financial aid
Fiji Airways has secured key financial support from the Fijian Government days after announcing large job cuts.
The struggling airline will get FJ$450 million worth of aid from the government including payment deferrals, and new debt financing.
It is still operating cargo flights but passenger services have all but dried up until at least early June.
"With effectively no travel demand and therefore no cash flowing into the business, our primary focus since March has been the preservation of cash reserves, negotiating payment deferral arrangements with aircraft financiers, lessors, and suppliers, and raising new debt finance," said CEO Andre Viljoen.
"We are grateful to the Fijian Government and the Fijian people for recognising the vital role of Fiji’s national carrier."
Last week the airline announced the redundancies of nearly 800 Fiji Airways workers, including cabin crew and pilots.
The global pandemic and subsequent downturn in travel demand led to the ‘drastic step’ it said.
The jobs cuts include the contract termination of all 79 foreign pilots.
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