Asian Development Bank extends $65m liquidity to Fiji Airways

Fiji Airways has secured a $65m liquidity support facility from the Asian Development Bank (ADB). The flag carrier on 12 March inked a $40m loan from ADB and $25m from the ADB-administered Leading Asia’s Private Infrastructure Fund (LEAP). “The support facility is to help the airline cover operating costs and meet financial obligations while the travel demand remains non-existent due to the pandemic-induced border closures,” Fiji Airways said. “Covid-19 has crippled the international aviation industry,” states the ADB's Jackie Surtani. He adds: “This has severely affected Fiji and other Pacific countries which rely on air links for critical freight, health, education, communication services, and especially for tourism – which accounts for around one-third of Fiji’s gross domestic product.” Fiji Airways’ managing director and CE, Andre Viljoen says that ADB’s financial support has come “at this critical time” and adds that the airline is “focused on its ‘future fit’ measures to survive and thrive once borders [reopen]”.<br/>