Air Pacific posted a 40% decline in net profit to $14.9 million for the financial year ended March 31 as fuel prices soared. That cost increase was reflected in a 5.7% rise in expenditure to $428.9 million while revenue was up only 2% to $449.4 million. Fuel climbed from 27% to 34% of total expenditure. The airline reported that tourist inflows to Fiji were impacted negatively in the final quarter by uncertainty over the imposition of a hotel turnover tax, fallout from adverse reporting of ...

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