By
LES BLOXHAM.
Travel editor Operating losses averaging $120,000 a day put Air New Zealand into" the red by $30.8M last year. The airline's annual report, tabled in Parliament yesterday. records deficits of $33.5M on international services and SIO.IM on domestic services. Other revenue, however, allowed the company to reduce this over-all operating loss of $43.6M to a net loss of $30.8M. In the previous year Air New Zealand produced a net profit of $13.6M: but only through the inclusion of insurance revenue from the loss of the DCIO on Mount Erebus. The total operating loss then was $15.9M (international $ll. IM: domestic. S4.BM).
While the company received a 21.7 per cent boost in revenue last year to produce a total of $557.23M. expenditure rose by 27 per cent to $600.86M. The international division’s
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Press, 2 September 1981, Page 1
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134Untitled Press, 2 September 1981, Page 1
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