UNIT TRUST OF SAMOA STATEMENT ON THE NATIONAL AIRLINE RE-LAUNCH INITIATIVE MEDIA STATEMENT FOR IMMEDIATE RELEASE
The Government of Samoa through the Unit Trust of Samoa (UTOS) wishes to provide the public with an update on the progress of the Airline Initiative, targeting the re-launch of Jet Operations for Samoa Airways. This is an important long-term project for our country’s connectivity, economy, and national pride.
Over recent months, a Working Group comprised of the UTOS, Samoa Airways, Ministry of Finance, Attorney General’s Office, Ministry of Public Enterprise and a range of technical and industry advisors, has been engaged in detailed planning discussions covering every aspect of this initiative. These discussions have been thorough by design, reflecting the scale of the undertaking and our determination to get this right for the people of Samoa.
We recognise that some of these internal discussions have recently found their way into public reporting. While the Government would ordinarily prefer that planning discussions of this nature remain internal until finalised as is normal practice for any major national project, we also recognise the high level of public interest in this initiative and the importance of keeping our communities informed.
We can confirm that fundraising through UTOS represents one part of a broader, multi-faceted funding strategy still being developed. Discussions on fleet and route options remain ongoing as part of normal due diligence, and that recent engagement with international aviation industry experts forms part of this same process of ensuring Samoa’s plan is realistic, sustainable, and well-informed.
The Government wants to reassure the public that nothing in these internal discussions changes our commitment to this initiative or our confidence in its long-term success. We thank the media and the public for their interest in this important national project, and particularly thank our local investors and diaspora communities for the confidence they have already shown.
The Government will continue to provide updates as this initiative progresses, and we look forward to sharing further milestones in the months ahead.
UTOS (Trust) is a private trust owned by the Unitholders with its assets entrusted to a Trustee Company which holds in trust the funds of the unitholders. These funds are invested into a diversified portfolio of assets ranging from term deposits, government securities and shares in privately owned companies. Its social objective is inclusivity; providing accessible and affordable investment for ordinary Samoans. Its commercial objective is to generate sustainable returns for the unit holders from a risk assessed and balanced investment portfolio.