World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


Fiji Airports Secures Financing Facility Through ANZ Fiji & Australian Infrastructure Financing Facility For The Pacific

Fiji Airports has secured a multimillion-dollar finance facility through ANZ in partnership with the AIFFP.

"The pandemic's toll on tourism and aviation has set back years of economic progress across the Pacific. 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. 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," said the Fijian Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum.

Fiji Airports Chairman, Geoffrey Shaw said the loan facility funded in local currency, without the requirement of a Fijian Government guarantee, is recognition by our funding partners of the significant role that Fiji Airports and in particular Nadi International Airport, play as the aviation hub of the South Pacific.

“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. This facility reinforces and provides assurance for our business, certainty for our employees and our long-term future”

“Nadi International Airport is aggressively gearing up for international tourism recovery once borders reopen. The completion of committed pre-COVID and future works, will enhance our capability, add to our capacity and reinforce our readiness to grow the future of tourism for the benefit of the broader economy. Additionally, this facility will provide for Government’s ongoing vision and our joint social obligation to provide air connectivity to remote outer islands to promote opportunity for business development for all Fijians.” Shaw said.

“Australia is pleased to be making an important investment in an organisation that will be critical for Fiji’s economic recovery. This investment will support local employment and ensure Fiji and the region are ready to receive visitors as soon as borders reopen”, said Australian High Commissioner, John Feakes.

Fiji Airports acting CEO, Isei Tudreu said the ability to commercially negotiate this innovative finance facility as a state-owned enterprise, is a demonstration of our commitment towards business recovery and confirmation by our finance partners of the future long term commercial viability of the company.

“Nadi International Airport plays an integral role in our economy. Pre COVID, the total international passenger movements were 2.2 million annually. We are anticipating a ramp up of operations and look forward to the resumption of air travel when it will be safe to do so.”

“Nadi International Airport has received Airport Health Accreditation from Airports Council International, a global trade representative of the world's airport authorities. This accreditation underscores our ongoing commitment and effort to build passenger confidence once travel resumes,” Tudreu said.

The loan refinance package is a take out of an existing loan balance and provides additional capacity for approved capital works projects.

“The greater part of the funding facility replaces our 2014 Nadi Airport Terminal Modernisation Project loan which we have been successfully paying down over the years due to a well-structured and profitable business enterprise,” Tudreu explained.

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.

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.

© Scoop Media

World Headlines


UNESCO: Hails Return Of Looted Ancient Gilgamesh Tablet To Iraq

The Gilgamesh Dream Tablet - one of the oldest surviving literary works in history - is to be returned to Iraq by the United States later this week, the UN agency for Education, Science and Culture (UNESCO), said on Monday...

UN Report: Most Agricultural Funding Distorts Prices, Harms Environment

Around 87% of the $540 billion in total annual government support given worldwide to agricultural producers includes measures that are price distorting and that can be harmful to nature and health... More>>

UN: Support Afghans In Their Most Perilous Hour, Urges Guterres
The international community should urgently offer a “lifeline” to millions of vulnerable Afghans “who face perhaps their most perilous hour”, the UN Secretary-General said on Monday...More>>

Focus On: UN SDGs

UN: More Than 130 Countries Expected To Announce National Commitments At UN Food Systems Summit
The Heads of State and Government from more than 90 countries are expected to announce their commitments to transform food systems to achieve the Sustainable Development Goals at the historic UN Food Systems Summit next week... More>>

UN: Only 2% Of Covid-19 Vaccines Have Been Administered In Africa

More than 5.7 billion COVID-19 vaccine doses have been administered globally, but only 2% of them in Africa, said World Health Organization (WHO) chief, Tedros Adhanom Ghebreyesus on Tuesday... More>>

UN: Climate Action Essential To Cool ‘Season Of Fire And Floods’ Worldwide

With extreme weather events increasingly impacting countries across the world, the deputy UN chief on Monday underlined the importance of limiting temperature rise to the internationally agreed goal of 1.5 degrees Celsius above pre-industrial levels... More>>