The Accountable and Responsible Minister
Minister for Finance and Treasury
Board of Directors
| Director | Position | Expiry |
| Mr. Frank Wickham | Chairman | 11/03/2026 |
| Mrs. Areau Matang Hivu | Member | 05/03/2027 |
| Mr. Jackson Kiloe | Member | 26/09/2025 |
| Mr. Andrew Nihopara | Member | 11/03/2027 |
| Mr. Mike Clay | Member | 21/10/2025 |
| Mr. Bob Pollard
Mrs. Rose Sulu |
Member
Member |
11/03/2026
13/03/2025 |
Activities
Solomon Airlines Limited (SAL) is a Solomon Islands company registered under the Companies Act 2009. 100% of its shares are owned by the Government of Solomon Islands, through the Investment Corporation of the Solomon Islands (82.3%) and Solomon Island Holdings (17.7%). This SOE is commercially focused to provide domestic and international air and ground handling services that will fully maximize the benefits of our customers.
The company is subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010.
Solomon Airlines is governed by a board of directors that is responsible to the Minister of Finance and Treasury, being the Accountable Minister for Solomon Airlines Limited.
Vision and Mission
Solomon Airlines serves a domestic network of 24 destinations, and four international cities (Brisbane, Nadi, Port Vila and Port Moresby). It is the only scheduled airline operating on domestic routes, although it does not have statutory exclusivity on any of its routes.
Community Service Obligations
Solomon Airlines received SBD9.9million, SBD3.039 million, SBD2.766 million, SBD3.8 million and SBD4.0 million in payments for the provision of community service obligations (CSOs) in 2016, 2017, 2018, 2019 and 2020 respectively. These CSOs are air services to provincial airstrips where ticketing revenue is insufficient to cover the costs of service.
Financial Highlights
| Financial Highlights (SBD ‘000) | 2016 | 2017 | 2018 | 2019 | 2020 | 5-yr Average | |
| Revenue | 259,701 | 277,845 | 294,121 | 316,187 | 195,444 | 268,668 | |
| Net Profit After Tax | -17,244 | 10,797 | 31,354 | -41,382 | -30,855 | -14,548 | |
| CSO payments | 9,978 | 3,039 | 2,766 | 3,800 | 4,000 | 4,717 | |
| Total Assets | 168,315 | 167,310 | 209,179 | 172,766 | 203,352 | 184,184 | |
| Total Liabilities | 168,141 | 164,594 | 176,458 | 181,427 | 250,811 | 188,286 | |
| Shareholders Funds | 174 | 2,716 | 32,720 | -8,662 | -47,460 | -4,102 | |
| ROE % | -9930.0% | -398% | 96% | – | – | -2455% | |
| ROA % | -10.2% | 6% | 15% | -24% | -15% | -6% | |
| Asset Utilization | 154% | 166% | 140% | 183% | 96% | 148% | |
| Cash / Current liabilities | 0.038 | 0.221 | 0.14 | 0.19 | 0.12 | 0.150 | |
SALs revenue have gradually increase from 2016 – 2019, however, due to the outbreak of COVID-19 in early 2020 has result to the fall of revenue in 2020 as flights are canceled, border restriction has been imposed and lockdown. Looking at the profit of SAL during this 5-year period is very low compared to the revenue because of high expenses, high operation cost, unprofitable domestic route and other financial obligation. Average return on asset for SAL during this 5-year period is -6%, this is a challenge for SAL as they have not been able to gain profit from fully utilizing their assets. SAL return on equity remains low than expected as trend shows a negative ROE all throughout the 5-year period. Thus, this means that SAL is less efficient in using it equity capital to generate profit. However, SAL is very certain that they will become more efficient in the next 5 years.
Important Documents
SAL Financial Statements: 2014 | 2015 I 2016 I 2017 I 2018 I 2019
Statement of Corporative objectives:
- SAL Statement of Corporate Objectives 2019-2021
- SAL Statement of Corporate Objectives 2020-2022
- SAL Statement of Corporate Objectives 2021-2023
- SAL Statement of Corporate Objectives 2022-2024
- SAL Statement of Corporate Objectives 2024-2026
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