Fiji Airways secures $132m loan with ADB
March 12, 2021 4:45 pm
Fiji Airways has today signed a loan worth over $132 million with the Asian Development Bank.[Supplied Image]
Fiji Airways has today signed a loan worth over $132 million with the Asian Development Bank.
The Liquidity Support Facility is to help the airline cover operating costs and meet financial obligations while the travel demand remains non-existent due to the pandemic-induced border closures.
$81 million is from the ADB and $50 million from the Leading Asia’s Private Infrastructure Fund or LEAP, which will be administered by ADB.
Fiji Airways Chief Executive, Andre Viljoen says the Support Facility is an endorsement for their strategy of bridging the world to Fiji and the South Pacific.
Viljoen adds the airline is focused on its ‘future fit’ measures to survive and thrive once borders re-open.
He says the Airline will lead Fiji’s economic recovery through tourism and trade when travel resumes safely, and this historic support facility from the ADB will help them do just that.
Viljoen has thanked the Prime Minister and the Minister for Economy, for the government guarantee to make the loan possible.