Air Niugini in healthy state: Minister

STATE Enterprise Minister Sasindran Muthuvel says Air Niugini is in good financial health with a solid balance sheet position.
Muthuvel in a statement dismissed claims that Air Niugini was facing financial problems.
He confirmed that the airline had not received any funding from the Government, either through grants or capital in 25 years.
“While Air Niugini has been fortunate enough to receive a K20 million interest bearing loan from Kumul Consolidate Holdings, to assist during this Covid-19 crisis, this loan will have to be repaid.”
Muthuvel thanked the Air Niugini board of directors for achieving “a turnaround of K130 million between 2018 and 2019 to deliver a small profit in 2019”.
He said the board had already started looking for a replacement for the Fokker fleet.
“Airlines across the world are hurting, and aircraft manufacturers are very keen to sell aircraft.
“This is the perfect time for Air Niugini to negotiate the lowest possible price for replacements for its Fokker and B737 fleet,” he said.
The B767 fleet will be replaced this year.