IMPERIAL AIRWAYS WILL PAY DIVIDEND.

Star (Christchurch), Issue 18548, 23 August 1928, Page 10

IMPERIAL AIRWAYS WILL PAY DIVIDEND.

SERVICES ARE TO BE EXTENDED TO INDIA.

(United Press Assn.—By Electric Telegraph.—Copyright.)

(Received August 23, 11.30 a.m.) LONDON, August 22.

It is announced that the directors of the Imperial Airways Company, which conducts air services to the Continent and Middle East, have recommended the payment of a dividend of 5 per cent for the year ended March 31, 1928. This is an event of note in the annals of British air transport, for it indicates that within four years of the formation of the company, its prospects are such that the board can afford to make dividend payments, instead of retaining every penny for developments. The company has insured capital amounting to £472,800 compared with £11,400 for the previous year; £24,000 are being devoted to the wiping-off of the deficit of the earlier years of operation. The great improvement in the past year, is attributed to the gradual improvement of the company's air fleet and the increasing use of its air services As the public become more cognisant of the advantages of air transport. With the prospective extension of the company’s services, notably to India, which should prove profitable, it is anticipated that in the near future the company will reach a, self-supporting basis. Increased Air Defence. An important extension of the Imperial air defences is about to be made hy the Air Ministry. Two new flights of Super-Marine Southampton flying boats are to be formed at Cattcwater Air Station, Plymouth. The first of these flights, when it has completed its trials at Plymouth, will proceed to eastern waters. It was at first intended to base on Karachi, but it is now almost certain that Basra will be the base. The second flight, which will be ready next spring, will remain at Plymouth for coastal defence purposes. Next year, therefore, flyingboat defences of Empire will be disposed as follows: Two flights in homewaters at Clashot and Plymouth, and two flights on trade routes, and one flight at Basra and one at Singapore. The Singapore flight will be the four Super-Marine Napiers which are at present in Australia.—British Official Wireless.