SOLAIR LOSSES SBD 11M DUE TO COVID-19
Solomon Airlines has lost SBD 11-million dollars in revenue in the last eight months due to the current pandemic.
Solomon Airlines Finance Manager, Peter Soqoilo announced this in a media conference today.
Mr Soqoilo said the 11-million dollars revenue loss is much lower than the 23-million dollars that was predicted early this year.
“Despite this challenging environment we just had our financial August report, overall from our projected numbers in terms of our profit and loss we are better off by 11 million dollars from the 23-million-dollar loss that was previously predicted,” Mr Soqoilo said.
Mr Soqoilo said charter and cargo flights including the Iumi Tugeda Holiday package initiative has helped the airline’s operation afloat.
“There are some positive signs, these are driven from additional charters which we have generated over 20 million dollars above what we have projected, weekly cargo flights are also generating good revenue, the Iumi Tugeda Holiday package growing momentum from the month of June also helped in reducing the airline’s loss,” Mr Soqoilo said.
The national air carrier Airbus-A320 lease, procurement of spare parts, disruptive cost in flight schedules and wear and tear incurred by aircrafts from air-strips made up the majority of the airline’s costs.
Meanwhile the check up done on the Airbus-A320 currently in Singapore will cost 4 million Solomon dollars.
Chairperson of the Airlines Board, Frank Wickham said the airline’s financial status is far from reaching a safe threshold.
“We are looking at more means to increase and maximize our revenue while keeping our cost low, ongoing support from the government and our stakeholders are much appreciated as it allows the airline to maintain its operation,” Mr Wickham said.
By Sharon Nanau