The Civil Aviation Authority of Fiji (CAAF) has disclosed that total remuneration for its key management personnel amounted to $1.09 million in 2024, up from $763,824 the previous year.
According to the Authority’s 2024 Annual Report that was tabled in Parliament last week, key management personnel include the Chief Executive Officer, Ms. Theresa Levestam.
Executive Managers are responsible for Air Safety, Ground Safety, Aviation Security & Facilitation, Standards, and Corporate Services.
The report stated that “transactions with key management are no more favourable than those available to third parties at arm’s length.”
Remuneration for the year totaled $996,472, while the FNPF employer contribution rose to $97,542, reflecting the 10 percent rate implemented from January 2024.
CAAF said the increase reflected expanded operational responsibilities and performance-based adjustments aligned with its governance and accountability framework.
CAAF posts $3.8m surplus in 2024
The Civil Aviation Authority of Fiji (CAAF) has reported a net surplus of $3.8 million for 2024, marking a major turnaround from the $617,359 deficit recorded the previous year.
According to the 2024 Annual Report that was tabled in Parliament last week, total income more than doubled to $13.51 million, supported largely by a government grant that accounted for 53.79 percent of CAAF’s total revenue.
“The surplus demonstrates our commitment to sound fiscal management and the careful timing of capital investments that will support future growth,” states the report.
Expenses rose from $7.26 million to $9.71 million, mainly due to organisational expansion and increased project activity. However, the rise in revenue outpaced costs, resulting in a solid operating surplus.
CAAF’s total assets increased to $29.99 million, while liabilities remained low at $2.09 million, indicating continued financial stability and liquidity.
CAAF also made significant capital investments, including new IT equipment, multifunction printers, and the procurement of four vehicles scheduled for delivery in early 2025. A major roof replacement project began in December and is expected to be completed early next year.
“These investments ensure that CAAF remains well-positioned to meet Fiji’s aviation safety and operational standards.”
Departure tax revenue contributed 29.18 percent of total income, reflecting increased international travel and passenger movements.
CAAF said part of the 2024 surplus is linked to projects committed but not yet paid for, ensuring that funds remain aligned with its future operational priorities and infrastructure needs.
