A flagship promise by the FAST-led government to relaunch Samoa's national airline and acquire two jet aircraft has suffered a significant setback, with just $459,000 raised through a special investment fund and nearly 77 per cent of that amount coming from local investors rather than the overseas Samoan community it was designed to attract, the Samoa Observer can reveal.
The amount raised falls well short of the funding likely required to lease or acquire commercial jet aircraft. During the previous Samoa Airways relaunch plans, a cancelled order for a Boeing 737 MAX 9 was expected to cost between US$300,000 and US$500,000 (about T$750,000 to T$1.25 million) per month in lease payments, depending on the season and leasing arrangements.
"The fund doesn't even have enough for a plane tyre," one source familiar with the initiative said.