BIG LOSS BY B.O.A.C.
Future Outlook ‘Encouraging’ (N.Z.PA.-Reut«r—Copprtpht) LONDON, October 22. British Overseas Airways Corporation lost £12,880,444 during the last financial year, bringing its accumulated deficit to more than £BO million, the State-owned corporation announced today. But the chairman. Sir Matthew Slattery, said future prospects were “extremely encouraging.” By mid-Sep-tember the airline was showing a £3,500,000 improvement on the first 24 weeks last year.
“We have increased carryings quite substantially. We are going to end up with a small operating surplus before interest- charges," said Sir Matthew Slattery.
He said the corporation had been committed over some years to the purchase of 42 Vickers VCIO aircraft which had been ordered on an estimation of future growth in the airline industry as seen in the past. But it was impossible to say now’ with complete certainty whether the number of aircraft on order, together with the existing fleet of 20 Boeing 7075, would prove excessive.
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Press, Volume CII, Issue 30270, 24 October 1963, Page 18
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154BIG LOSS BY B.O.A.C. Press, Volume CII, Issue 30270, 24 October 1963, Page 18
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