Solomon Airlines anticipates small profit in 2018 after four successive years of losses

13 January, 2019

Solomon Airlines CEO Brett Gebers reported (11-Jan-2019) the following business highlights for 2017/2018:

  • Achieved a "modest turnaround profit" in 2017 following four years of successive losses. Forecasts minor profit in FY2018 despite grounding of A320 equipment for five months due to shortage of aircraft engine parts;
  • Economised USD4 million through A320 aircraft lease renegotiations. Previous lease contract required Solomon Airlines to return the aircraft to the leasing company in May-2020 along with a payment of around USD1.5 million. Solomon will own the A320 outright by Oct-2019;
  • Ceased Honiara-Sydney service in 2017 due to losses sustained on the route;
  • Introduction of a new service to Tarawa on behalf of Air Kiribati in Aug-2017, which has been extended to Dec-2019;
  • Became a full member of IATA in October-2018;
  • Working with stakeholders to prepare Munda Airport for direct international services;
  • Establishment of a fully functioning operations control centre managing all flights and minimising the effect of disruptions;
  • Proceeding with moving Amadeus reservations system from the Qantas reservation system to an independent system operated by Solomon Airlines. [more - original PR]