Fiji Airways Reduces Debt to $298 Million Amid Ongoing Repayments

Fiji Airways reported an outstanding debt of FJD678 million (USD298 million) as of July 31, 2025, according to testimony from the airline’s chairman, Nalin Patel, before Fiji’s Parliamentary Standing Committee on Social Affairs. Presenting the carrier’s 2023 annual report, Patel said the company successfully reduced debt levels following significant borrowing during the COVID-19 pandemic. The airline’s total debt had stood at FJD682 million (USD300 million) by the end of 2024.

During 2023, Fiji Airways repaid FJD100.4 million (USD44.2 million) in loans and refinanced FJD94.9 million (USD41.8 million) in offshore debt through domestic borrowing to lower interest costs. Patel noted that expensive foreign currency loans were replaced with more affordable local financing. However, new loans increased total debt to FJD722.1 million (USD317.4 million) by December 31, 2024, as the airline borrowed an additional FJD150 million (USD66 million) while repaying FJD110 million (USD48.4 million).

Between January and July 2025, the airline made another FJD45 million (USD19.8 million) in repayments, bringing debt to its current level. Opposition leader Parveen Kumar raised questions about Fiji Airways’ loans with the Fiji National Provident Fund (FNPF). Outgoing CEO Andre Viljoen clarified that the loans are being repaid annually and are over-securitized, providing strong protection for FNPF.

Fiji Airways achieved record 2023 results, reporting FJD1.8 billion (USD791 million) in operating revenue and FJD131.8 million (USD57.9 million) in profit before tax. The airline operates a modern fleet of Airbus A330s, A350s, and Boeing 737 aircraft.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com