PNG Air reports boost in performance

Business

PNG Air has reported continuing improvement in its performance, with total revenue growing by nearly 24 per cent in the first six months of 2018, compared to the same period last year.
The airlines revenue from Regular Passenger Transport (RPT) including freight grew by more than 7 per cent over the June 2017 figures.
PNG Air chairman William Lamur said overall RPT capacity remained constant from 2017 to 2018.
“So growing RPT revenue in soft prevailing economic conditions means the airline is increasing its share of the PNG domestic travel market,” he said.
“This again supports the airline’s strategy of focusing on the RPT market and bringing in brand new ATR aircraft to provide a competitive alternative for the travelling public.”
The airline’s charter revenue also grew significantly compared to 2017 half year, mostly because of the Newcrest contract which was awarded to the airline in the second half of 2017.
Lamur said the encouraging revenue growth and cost savings reduced the airline’s operating losses before abnormal items and tax by nearly 74 per cent, compared to 2017 (K3.55 million compared to K13.75 million).

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