Fiji Airports secures major financing
August 1, 2021 4:30 pm
Fiji Airports has secured a multimillion-dollar finance facility through ANZ in partnership with the Australian Infrastructure Financing Facility for the Pacific.
Minister for Economy, Aiyaz Sayed-Khaiyum highlighted that the pandemic’s toll on tourism and aviation has set back years of economic progress across the Pacific.
Sayed-Khaiyum adds that with the support of Australia and other key development partners, Fiji’s steady administration of vaccines is bringing a recovery within reach — with a target to fully vaccinate 80% of Fijian adults by the end of October.
He says this finance facility ensures that Nadi International Airport is equipped with facilities to serve as the gateway to the new normal for the entire Pacific — connecting our region to the world and connecting Fijians to each other.
Fiji Airports Chairman, Geoffrey Shaw says that this loan facility provides Fiji Airports with financial certainty, enabling previously committed capital expenditure works commenced and well advanced under contract, to complete and assures our resilience for the future during these unprecedented times.
Shaw says this facility reinforces and provides assurance for their business, certainty, their employees and their long-term future.
He says Nadi International Airport is aggressively gearing up for international tourism recovery once borders reopen adding that the completion of committed pre-COVID and future works, will enhance our capability, add to their capacity and reinforce their readiness to grow the future of tourism for the benefit of the broader economy.
Australian High Commissioner to Fiji, John Feakes says they are pleased to be making an important investment in an organisation that will be critical for Fiji’s economic recovery.
Feakes goes on to say that this investment will support local employment and ensure Fiji and the region are ready to receive visitors as soon as borders reopen.
Fiji Airports acting CEO, Isei Tudreu says the ability to commercially negotiate this innovative finance facility as a state-owned enterprise, is a demonstration of their commitment towards business recovery and confirmation by their finance partners of the future long term commercial viability of the company.
Tudreu says the funding facility will assist in the substantive off-gates project at Nadi International Airport to provide further accommodation for larger code E aircraft (A350s) and additional 737 apron parking leading to potential increased frequency, uplift and passenger numbers.
He says additionally, the facility will provide for the completion of Air Traffic Management Systems upgrades and the capacity to invest in and further enhance our network of outer island airports’ facilities.