SAMOA AIRPORT AUTHORITY PRESENTS DIVIDEND CHEQUE TO GOVERNMENT AFTER OVERCOMING COVID-19 CHALLENGES
Faleolo International Airport (Photo: Lars Gustaf Bell/ Eyespy Radio Samoa)
In a significant gesture marking a milestone in Samoa's aviation industry's recovery journey, the Minister of Works, Transport and Infrastructure, Afioga Olo Afoa Fiti Vaai, representing the Samoa Airport Authority (SAA), presented a dividend cheque of SAT$1,000,000 to the Minister of Public Enterprises, Afioga Leatinuu Faumuina Wayne So’oialo, on behalf of the Government of Samoa. This dividend, totaling 35% of the audited net profits for the financial year ending 30 June 2023, signifies a remarkable turnaround for the SAA after a series of challenging years due to the COVID-19 pandemic.
The presentation marks the first time since the onset of the COVID-19 pandemic that the SAA has been able to offer a dividend to the government. The years 2020 through 2022 were marked by consecutive revenue losses as the Faleolo International Airport operations were compelled to shut down completely in compliance with the State of Emergency declared in early 2020. The resumption of operations only commenced in August 2022, adding to the prolonged financial strain experienced by the SAA.
Expressing gratitude, Afioga Hon. Olo Afoa Fiti Vaai acknowledged the unwavering support and patience of Afioga Hon. Leatinuu Faumuina Wayne Sooialo and the Ministry of Public Enterprises Chief Executive Officer, Ms. Tooala Elita Tooala, during the tumultuous period of 2020 to 2022. He highlighted the gradual improvement in SAA's revenue since the reopening of borders in August 2022, particularly with the increase in incoming flights from Fiji, New Zealand, Australia, and Pago Pago.
However, amidst the celebrations, Afioga Hon. Olo Afoa Fiti Vaai cautioned the Ministry of Public Enterprise CEO regarding the Government of Samoa's decision to withhold SAA's revenue from Upper Air Space Charges, which constitutes 8% of the authority's income. This decision poses a challenge to the SAA's financial stability and underscores the need for continued dialogue and cooperation between the SAA and the government.
In acknowledging the collective effort that contributed to the SAA's resilience and recovery, the authority expressed its appreciation to the Government of Samoa, business partners, airline operators, airport tenants, stakeholders, the World Bank Group, and the New Zealand Government Partnership. The support received from these entities, alongside the dedication of the SAA's Board of Directors, management, and staff, has been instrumental in sustaining the development of the SAA's operations in the post-COVID-19 era.
The presentation of the dividend cheque symbolizes not only the financial recovery of the SAA but also the resilience and determination of Samoa's aviation sector in overcoming unprecedented challenges. As the SAA continues its journey of recovery and growth, collaboration and support from all stakeholders remain paramount in ensuring a sustainable and thriving aviation industry for Samoa.