CIVIL AIR TRANSPORT.
SUBSIDY BY GOVERNMENT. 1 , ... , -—■— < ■!"\.■'• ■ < NEW COMPANY STIPULATED. ' Australian and N.Z. Cable Association. (Reed. 9.5 p.m.)- LONDON, Feb. 23. The report of the committee, on civil air transport, subsidies, recommends, on the termination of present agreements with British companies running crosschannel services, that a new company should be formed with capital of £1,000,000, half of which is to be subscribed, to operate the air services. It should receive a. guaranteed subsidy of £1,000,000 spread over a decade,- Government control being secured through' one or two nominated directors. The - committee ; bases its plan ,on the decision that none of the existing companies can afford the necessary capital for experiment and research, or developmental work. If the'new company is a mere amalgamation of those existing it will not be countenanced. • . j ;
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Bibliographic details
New Zealand Herald, Volume LX, Issue 18334, 26 February 1923, Page 7
Word Count
131CIVIL AIR TRANSPORT. New Zealand Herald, Volume LX, Issue 18334, 26 February 1923, Page 7
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