The Fiji Airports has decided to diversify its revenue sources and have real estate as an alternate revenue stream.
This has been highlighted by Prime Minister and Minister for Public Enterprises Sitiveni Rabuka while contributing to the debate on the “Review Report of the Fiji Airports Annual Report 2020.”
Rabuka says this move is to mitigate future revenue disruptions in the aviation industry.
He adds that Fiji Airports will conduct a development plan assessment for potential land development opportunities associated with FA’s land in Namaka.
“The proposed development plan is expected to span over the next 25 years. FA will engage consultants to assist in developing a master plan for land development and progressing the plan.”
Rabuka says in recent years, Fiji Airports has been internally financing its capital works, including outer island maintenance.
He adds that in terms of major capital projects, FA has secured a $40 million loan with ANZ and the Australian Infrastructure Financing Facility for the Pacific (AIFFP).