Despite the positive Net profit after tax of $115,194 the Samoa Airways recorded from the small operation this quarter, the net loss of $4m from the Jet deteriorates overall performance resulted to an overall net loss of $1.6m recorded for the first 3 months of FY2022.
This comes as Samoa Airways abandoned its ambitions to retain a jet in its fleet for the next few years after recently terminating the lease in acrimonious circumstances for its sole Boeing 737-800.
Minister of public enterprises, Leatinu’u Wayne So’oialo, said the state-owned airline would concentrate on joint ventures in the short to medium term. This coincides with Samoa’s decision to reopen its borders to international travellers last month.
As recently reported in ch-aviation, Samoa Airways paid $4.6 million in penalties to FLY Aircraft Holdings Eighteen Ltd, an SPV for Carlyle Aviation Partners after rejecting a leased B737-800 then registered as 5W-TFL (msn 42805). That plane was acquired in mid-2021 but a subsequent change in government in Samoa saw priorities shift and the aircraft was deemed surplus to requirements and never made it out of Brisbane Australia.
