Outgoing Managing Director and CEO of Air Pacific Dave Pflieger said he cannot reveal the loan repayment agreement and details on the interest rates in relation to the loan taken from European banks to pay for the purchase of the three new A330s.
When asked in a conference, Pflieger said while many are raising issues about the loans, he said it is an amazing business plan to purchase the brand new planes to invest in the country.
The catalogue price for the new planes is US$200 million each and as revealed in 2011, the Fiji National Provident Fund gave Air Pacific a loan of $200 million which was the initial funding for the purchase of the three wide body planes.
85 percent of the loan to purchase the planes has come from offshore banks.
When asked on the repayment plan on the huge loan, Pflieger said Air Pacific which will soon be Fiji Airways is now doing well financially and he expects it to deliver profits to pay off the loans.
When asked why he is leaving at this crucial time, Pflieger said he is leaving behind a strong team that will take the airline forward.
The second and third A330s will arrive in May and November respectively.
Pflieger said the new planes which are built according to Fiji’s specifications are also amazing.
Dave Pflieger will take up the posts of President and CEO of Silver Airways from May 1st.
Story by: Vijay Narayan
It’s not about why, but how says Pflieger
Related Stories
We are committed to holding elections – Siromi Turaga
Questions were raised during Dialogue Fiji’s Constitution review discussion on whether the government can delay the general elections and complete the Constitution review however Acting Attorney General Siromi Turaga
Fijian economy on track to grow for fourth consecutive year in 2025 by 3.4%
The Fijian economy is on track to grow for the fourth consecutive year in 2025 by 3.4 percent, following a 3.5 percent expansion in 2024. The growth forecast is revised up marginally from the 3.2 percent projected
Heavy Rain Alert for Eastern Viti Levu, Southern Bua, Cakaudrove, Taveuni and maritime areas
A heavy rain alert is now in force for the eastern half of Viti Levu (Navua–Suva–Nausori to Serua–Namosi to Tailevu–Naitasiri–Ra areas), southern Bua, Cakaudrove, Taveuni and nearby smaller islands, the Lau an
We need to dismantle criminal enterprises, hitting them where it hurts most - Speaker
Speaker of Parliament, Filimone Jitoko has highlighted during the opening of the Office of the Director of Public Prosecutions Conference that there is a need for prosecutors in the country to master the digital frontie
Fiji has learned from its past and we know that restricting media engagement or access is not the answer - Tabuya
At all times, the public interest in accessing information and the media’s role in scrutinising government must outweigh any unilateral power to silence or sideline a news outlet. In Fiji, we uphold the principle that
Wailea resident raises concerns about drug issues raised countless times with Police while COMPOL says official complaint must be lodged
Wailea Settlement Community leader, Inoke Utona says he has raised the issue of drug use and dealing in their area countless times with the authorities but there has still been no response from Police. However when