The first commercial flight as Fiji Airways was made in 1951 but the airline's origins date back to Katafaga Estates Ltd. formed in 1947. After being acquired by Qantas in 1958, Katafaga Estates was retooled as a regional airline and renamed Air Pacific. In May 2012, MD/CEO David Pflieger announced that as the final part of the airline's successful turnaround, the airline would be returning to its former name of Fiji Airways to reinforce its role as the national airline of Fiji. The Fiji government owns 52% of the airline and Qantas 46%, with the governments of several Pacific island nations holding the remainder.