IMPERIAL AIRWAYS

Taranaki Daily News, 28 December 1929, Page 28 (Supplement)

IMPERIAL AIRWAYS

THE YEAR’S WORKING.

EXTENSION TO AUSTRALIA.

London, Nov. 4

For the past year Imperial Airway:-. Limited, shows a balance of profit with the amount brought forward of nearly £33,000. Out of this an additional sum of £20,000 has peen placed to Obsolescence Reserve. A payment of 7} per cent, dividend absorbs £35,558, leaving a sum of £6683 to carry forward, some £2600 more than was brought forward the previous year. This result is attained upon less subsidy. The Right Hon. Sir Eric Geddes, chairman of . the company, who presided'at the annual meeting, reported that there had been a further increase of traffic. The traffic revenue for the year had increased by 29} per cent, compared with the previous year. “In fact,” he said, “the turnover of the European services has more than doubled during the .three years commencing March 31, 1926. In the Near East the results are also satisfactory, as the traffic revenue on the Cairo-Bagdad-Basra service has increased by 48 per cent, compared with the previous year. This service is now a part of the England-India service, of which it forms an important link. “The first turning point in the economics of commercial aviation was reached some two years ago, when, for the first time, we earned a gross profit on the prime costs of operation. STATISTICS OF TRAFFIC. “To sum up the statistics of the traffic and operations for the year, the aircraft have flovm 1,032,84® miles, and 34,757 paying passengers and 873 tons of mail, freight and excess luggage have been carried. Of the capacity provided, 74} per cent, has been filled with paying traffic in Europe, and 61 per cent, in the Near East, and of the services, scheduled in Europe 92.85 per cent, were completed, although, the weather conditions are probably less favourable for flying in Europe than anywhere else

in the world. The regularity achieved on the services in the Near East was 99.37 per cent. —we lost our goal of 100 per cent. . because several dust storms prevented us from flying to schedule on certain sections on three occasions.’. We must, however, eifpect some fluctuation in our progress. During the current year, for instance, travel in°general all over Europe has not improved at the expected rate, and in many cases has fallen the prophets predict an improvement in the figures for next year, “For the fourth year‘in succession your regular services were free from accident involving injury of any kind, and it is with the deepest regret and sympathy that I refer to this wonderful record being marred in the fifth year. No transportation company can expect to be entirely free from accidents, but anything that skill and forethought can do* is devoted to upholding our really Wonderful record of safety.”