QANTAS REVENUE INCREASES

Press, Volume XCII, Issue 27796, 22 October 1955, Page 4

QANTAS REVENUE INCREASES

£328,277 NET PROFIT FOR 1954

In spite of the heavy costs of introducing the Super Constellation aircraft into its service last year a net profit of £328,277 was made by Qantas Empire Airways, Australia’s State-owned international airline, in 1954. Revenue from all sources totalled £13,438,350, which was 18.1 per cent, more than the previous record year of 1953. These figures were given by the chairman (Sir Hudson Fysh) in his annual report presented to the Minister of Civil Aviation (Mr Athol Townley). During the year ended December 31, 1954, 118,495 passengers were carried by the company. This is an increase of 11,910 on the number for 1953. The average passenger distance flown on international routes rose from 3786 miles (in 1953) to 3995, and the average for all routes rose from 2001 to 2203 miles.

The company’s aircraft flew 10,972.857 miles during the year—--1,100,000 miles more than in 1953. Capacity offered increased by 19.4 per cent, to more than 67,000.000 ton miles. Operating profit for the year was £571,368, of which £243,091 went for taxation. The net profit of £328,277 represents a return of 6.5 per cent, on paid up capital, compared with 12.26 per cent, in 1953 when the net profit was £551,466.