Air Moana turnaround gathers steam, eyes profit in 2028/29

By Andrew Curran.

Air Moana is on track to make a profit in "two to three years" after a solid start to 2026. The privately owned French Polynesian airline, which only began flying in early 2023, says revenue is up 38% in the first six months of this year, while passenger numbers have risen 27%.

"We're on a path with a growing occupancy rate and increasing revenue," Air Moana Deputy Managing Director Marania Boixière Guérin told Papeete's Radio 1 outlet. The optimism marks a sharp about-face after a prolonged period of uncertainty and financial stress.

Guérin said the figures were encouraging and reflected the implementation of a five-year business plan. However, she declined to say how much Air Moana lost in the first half of 2026. She added that the fleet renewal programme and the return of leased aircraft would be key contributory factors.

Air Moana fleet renewal underway

Air Moana has four ATR72-600s, which it uses to serve an eight-airport network across French Polynesia. Later this year, two new ATR72-600XTs will ferry in to replace the initial pair of leased ATRs used to kick-start operations in 2023.

"By the end of 2026, we will have a total of four aircraft, including three XTs, two from this year, one from last year, and one leased aircraft that arrived in April," noted Guérin.

The airline recently caught a lucky break when the board of the Autonomous Port of Papeete approved USD2.2 million in interest-free funding to help pay for the aircraft acquisitions. The airline receives funding, while the port receives a substantial tax credit over two successive financial years.

Air Moana says it has successfully tapped into tax credits as a way of raising funding from scores of local French Polynesian businesses.

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Contact the writer: andrew@aerosouthpacific.com