The Samoa Airport Authority (SAA) has seen an increase in operating income from $13.29 million to $17.53 million in the last four financial years.
The organisation's operating expenses has also increased from $8.97 million to $$10.93 million. In the 2015 financial year, generated revenue for the SAA was $13.29 million in 2015 and increased by $4.23 million to $17.53 million in 2018.
The figures are outlined in the authority's annual reports for the financial years 2015, 2016, 2017 and 2018.
Departure tax collected at the airport in 2015 totalled $8.26 million; $9.12 million in 2016; $9.39 million in 2017, and $10.29 million last year. According to the annual report, there was also an increase of landing fees collected from $2.78 million to $3.96 million.
However, vehicle parking fees fluctuated over the four years. In 2015 SAA received 535,627 which increased to $653,920 in 2016, but dropped in 2017 to $537,529 and further decreased to $516,428 in the 2018 financial year.
The authority spent $357,198 for ATS and security services for the Fagali’i Airport, which is overseen by Samoa Airways. In 2015, SAA paid $84,661; $77,144 in 2016; $124,450 in 2017 and in $70,943 last year.
On operating expenses, the authority's biggest expense were salaries, which increased from $5.53 million in 2015 but decreased to $4.96 million in 2016. However, in 2017 it increased again to $5.35 million and in 2018 jumped to $5.61 million.
Another area of operating expenses is the electricity bill, which was $1.45 million in 2015 and increased to $2.42 million in 2018.
The SAA Board directors' expenses also dropped significantly over the last four years. According to the reports, in 2015 SAA spent $68,538 and the following year it dropped to $27,876 which was a difference of $40,662. In 2017 it decreased further to $22,074 and in 2018 went down to $9,056.
The current board members are Tuala Thomas Stancil, Samoa Roy Lee, Tuala Pat Leota, Solialofi Harry Potter, Samau Ieru Lokeni, Leota Tima Leavai and Chairman, Va’atu’itu’i Apete Meredith.
Also highlighted in the last four years is the reduction of expenses on telephone, faxes and postage from $162,740 to $98,045.
In the 2016 financial year, the SAA's annual report indicated a $4 million tala loss, which then CEO for SAA, Magele Hoe Viali, said was from deprecation costs and it was the value of the assets of the airport property, namely the terminal.
The FY 2016 report says despite the increase in revenues “expenses had also increased by approximately 41.3 percent compared to the previous financial year.
“This was mainly due to an increase in depreciation expenses resulting from a change in accounting estimates, which had been brought about by the reduction in the useful life of the terminal buildings. The old terminal building is expected to be demolished by 30 November, 2016,” according to the report.
Source: Samoa Observer
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