The airline in announcing its 2017 half year results say the company achieved positive results in terms of profit compared to last year’s.
The airline introduced its 6th brand new ATR 72-600 aircraft in June as part of the strategy.
PNG Air’s CEO Muralee Siva said “We were able to increase passenger revenue by nearly 27% compared to the corresponding period in 2016, despite having the same overall capacity.
This indicates the attraction of the ATRs we’ve been bringing in to replace the older Dash 8 aircraft and justifies the strategy we’ve followed”.
“The ATRs were also a big part of PNG Air winning the contract to provide all aviation services to Newcrest, the country’s biggest charter contract,” Mr Siva added.
As a result of the growth in passenger revenue the Airline reduced its operating losses before abnormal items and tax by more than 50% compared to the first half of 2016, to K12.83 million.
“Continued softening of the PNG economy, little new activity in the resources sector, foreign exchange issues and the fact the Airline is still transitioning to its modern ATR fleet prevented us from achieving profitability this year, but with stability in government, the economy and resource sector are expected to grow.
“PNG Air with its youngest in country fleet and increased capacity is in the right position to benefit from such opportunities,” Siva said.