Name Akuila Savu | ||
Akuila Savu (1944–2014) a native of Vanua Balavu, in the Lau Province was a Fijian economist who served at management level in both the public and private sector. Savu worked at the Central Planning Office as Director of Economic Planning before his stint as Chief Executive Officer and Managing Director of Air Pacific in 1980. In the 1990s, Savu was the Executuve Chairman of the Ports Authority of Fiji. He later became a board member of the Yatu Lau Company, owned by the people of the Lau Province.
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Air Pacific
Within a year of being appointed CEO, Savu was cutting back on staff and services and formultaing a plan of recovery to reduce Air Pacific's expected $6 million loss to $4 million. This plan included the Fiji Government buying back shares owned by Pacific Island Countries to make the company wholly owned by Fiji. In an interview with the New York Times in October 1981, Savu said, "If you look at the shareholdings, the intention was that we would be a regional airline." But, with most Pacific shareholders forming their own national airlines he added that,"Our shareholders are competing against themselves." His five-year plan included the purchase of their first $17 million Boeing 737-200 and replacement of inefficient aircraft due to the underestimated competition from Australia and New Zealand and special needs of operating aircraft in the Pacific. The government was not giving them any funding as the commercial airline was not subsidized and instead they had to borrow which was a problem Savu highlighted in the same interview,"You have to borrow, you end up with high interest and a short repayment period." Despite all the problems faced by national airlines in the Pacific, it remained unlikely that any of them would give up the dream of linking their countries to the world. "I don't think that's too ambitious," said Savu.
Ports Authority
In 1994, Akuila Savu launched an internal inquiry into the finances of the Ports Authority, the otucome of it, he didn't make public. He was publicly criticized by then Leader of Opposition Mahendra Chaudhry for this.
Yatu Lau Company
After Ports Authority and until his death, Akuila was Deputy Chairman and Company Secretary of the multimillion-dollar Yatu Lau Company, under the chairmanship of First Lady Adi Koila Nailatikau. In a 2014 interview with Fiji Sun, Savu announced the company had set up a committee to look into the possibility of a listing in the South Pacific Stock Exchange. An idea first brought up 7 years earlier. He said,"There are requirements we need to adhere to and therefore it might take us a year or two." Two benefits were highlighted. "First you can trade your shares and secondly, there can be capital being raised publicly which will mean additional funding," said Savu.