COMMERCIAL AVIATION

Evening Post, Volume CXX, Issue 38, 13 August 1935, Page 12

COMMERCIAL AVIATION

FIRST YEAR'S BUSINESS Air Travel (N:Z.) Ltd., after paying £611 to the Canterbury Aero Club for hire while its own machine was being repaired, and providing •£ 100 for depreciation, finished its first year with a debit of £2 8s 9d. This is considered a good achievement, when it is remem- : bered that the company has been actually operating for only a little more than six months. After taking these matters into consideration, the result of the company's short period of operation must be considered satisfactory. A second aeroplane is now on order and should reach New Zealand in October. The volume of passenger, mail, and freight traffic from January 1, 1935, to June 30, 1935, was as follows:—Miles flown,-48,933; hours flown, 490; passengers carried, 905; freight carried- (lb), 4858; mail carried (1b),.5368 The profit and loss account .shows that the gross earnings of the company from passenger fares, freights, and mail carrying were £1765 0s lid. General expenses absorbed £200 9s, repairs and maintenance were £322 5s Bd, petrol • and oil costs £255 2s 6d, and hire to the Canterbury Aero Club £611 las lOd. The net loss for the period-was £2 8s 9d.. The balance-sheet is- as follows: — : Liabilities: Capital paid up,-£2OBB 15s; sundry, creditors. £622 10s 7d— £2711 ss. 7d.Assets: National Bank of New Zealand, Ltd., £58 3s; sundry debtors, £136 9s sd; Cook Strait Airways, Ltd., shares, £100; aeroplane and equipment, £1542 4s lid; less depreciation, £100— £1442 4s lid. Landing grounds and hangars, £78 15s 4d; stock on hand, spare parts, etc., £293 17s 4d; preliminary expenses, £350 6s lOd; deposit on additional aeroplane, £249; profit and loss account, £2 8s 9d—£2711 5s 7d.