STATE-OWNED AIR SERVICE’S LOSSES
(Rec. 11.45 a.m.) LONDON, July 11. The State-owned 8.0.A.C. made a loss of at least £5,000,000 in its first year of normal working, which is by far its greatest loss since it started seven years ago, says the Daily Express. A special staff is working on the accounts, which will be presented to Parliament towards the end of the year. The corporation’s new chairman, Sir Harold Hartley,' has ordered every 8.0.A.C. branch drastically to cut expenses. The Daily Express says the corporation states the reasons for the heavy losses are: Firstly, the use of adapted war planes which are unable to compete with the latest foreign airliners; secondly, the need to operate with 11 types of aircraft and 10 different types of engine, calling for expensive duplication of maintenance plant; thirdly, Government insistence on uneconomic route operations, 8.0.A.C. traffic .experts say that many services on the Australian and Far Eastern routes are losing heavily, because the planes lack speed.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GEST19470712.2.58
Bibliographic details
Greymouth Evening Star, 12 July 1947, Page 5
Word Count
163STATE-OWNED AIR SERVICE’S LOSSES Greymouth Evening Star, 12 July 1947, Page 5
Using This Item
The Greymouth Evening Star Co Ltd is the copyright owner for the Greymouth Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.