Samoa Airways financial woes under investigation

Samoa's government has launched an investigation into the cash-strapped national airline.

The Minister of Public Enterprises, Leatinu'u Wayne So'oialo, is chairing a special Cabinet committee looking into Samoa Airways' failure to produce annual financial statements.

A report by the Ministry of Public Enterprises last month showed losses of more than US$14-million (37-million tālā) over the last two financial years after the global pandemic closed borders.

The Samoa Observer reports Leatinu'u saying some necessary action will be taken in due course.

The newspaper says the figures show the airline sliding deeper into functional bankruptcy with the gap between its assets and liabilities jumping by nearly 60 per cent in the 2020 fiscal year, from a mere US$4-million (11-million tālā) the year prior.

Meanwhile, the FAST party-led government is reportedly having troubles deciding the fate of a leased Boeing 737-800 aircraft currently undergoing safety checks in Australia.


Photo file Samoa Airways