£BO,OOO PROFIT BY QANTAS EMPIRE AIRWAYS
SYDNEY, Dec. 21
Qantas Empire Airways Limited made a net profit for the year ended March 31, of £79,900. A dividend of 5 per cent, absorbing £23,140 pounds has been declared.
The managing-director, Mr. W. Hudson Fysh, said that though the profit was higher than that of the previous years, the declared dividend was lower following the policy for the most prudent safeguarding of the company's future. The objective was to operate an economic service on business lines and as overseas international operator for the Commonwealth.
Because of the rapidly growing significance of air transport as a national instrument, larger operators must exist in the closest association with Governments. Routes for development during the coming year included the link between Sydney and Hong Kong and preparations to operate to Johannesburg should Australia and South Africa approve this route. The report is the first since the Commonwealth fully acquired the company’s share holding in July, 1947.
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Bibliographic details
Gisborne Herald, Volume LXXV, Issue 22826, 22 December 1948, Page 5
Word Count
161£80,000 PROFIT BY QANTAS EMPIRE AIRWAYS Gisborne Herald, Volume LXXV, Issue 22826, 22 December 1948, Page 5
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