NATIONAL AIRWAYS CORPORATION
£1,500,000 ADVANCED IN CAPITAL (From Our Parliamentary Reporter.) WELLINGTON. July 7. Capital advanced to the National Airways Corporation by the Government since its establishment amounts to £1,500.000. The original capital of the corporation provided for by the New Zealand Airways Act. J 945, was £1,01)0.000. but the act also provided for the Government to advance additional amounts up to £500.000. The amount of capital advanced is recorded in a statement of corporation investments included in the Public Accounts for the financial year 1949-50. which was tabled in the House of Representatives by the Prime Minister (Mr Holland) to-day. In the unauthorised expenditure account for the financial year ended March 31 are included payments totalling £389.127 to the National Airways Corporation There is a sum of £243.318 for losses incurred in the year ended March 31. 1r49.l r 49. and a sum of £lOO 000 on account for losses in the year ended March 31. 1950. A sum of £45.808 has been uaid to meet the excess of expenditure over income in the operation of the Pacific regional services in the year ended March 31. 1949. These payments have been made from the ordinarv revenue account of the Consolidated Fund.
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Bibliographic details
Press, Volume LXXXVI, Issue 26159, 8 July 1950, Page 6
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202NATIONAL AIRWAYS CORPORATION Press, Volume LXXXVI, Issue 26159, 8 July 1950, Page 6
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