Tuvalu Government Releases Airline Business Bid
FUNAFUTI, Tuvalu (April 20, 2001 – Radio Australia)---The government of
Tuvalu has released details of its bid to enter the international
As Radio Australia correspondent Sean Dorney reports, Finance Minister
Lagitupu Tuilimu outlined Tuvalu's bid for a controlling interest in Air
Fiji during his budget speech to Parliament.
"Minister Tuilimu said the offer for a controlling interest in Air Fiji
included the equivalent of about two million dollars worth of shares and
more than four million dollars in loan guarantees.
"He told Parliament the decision to invest in Air Fiji was taken last
December after a thorough assessment of Air Fiji's financial,
operational and management structures.
"He said the investment would safeguard Tuvalu's access to a reliable,
regular and affordable air service.
"The investment will be financed through a loan from the National Bank
"Earlier, in a State of the Nation address to Parliament, Tuvalu's
Governor General, Sir Tomasi Puapua, said buying into Air Fiji would
allow the government to gain experience in the operations and management
of an international airline.