FIJI Airways has been granted sovereign guarantees by the Fijian Government to support “urgent financing actions required to tide the company through the COVID-19 crisis”.
The airline’s CEO Andrew Viljoen said “with effectively no travel demand and therefore no cash flowing into the business, our primary focus since Mar has been the preservation of cash reserves, negotiating payment deferral arrangements with aircraft financiers, lessors and suppliers, and raising new debt finance”.
The bulk of FJ’s international services have been cancelled through to the end of Jun, with further reductions expected in Jul and Aug, Viljoen said.
With no cash coming in “we are extremely grateful to the Fijian Government for standing behind Fiji Airways and providing these guarantees without which…Fiji Airways would not survive”.
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Source: traveldaily