AIR CORPORATIONS IN BRITAIN CALLED UPON TO REDUCE DEFICITS
(N.Z.P.A.—Copyright.?
LONDON, Feb 3 (Recd 6 pm).— Three British nationalised airways corporations have been called on to reduce their deficit from the expected £9,000,000 for 1948-49 to £5,500,000 for 1949-50, said LordPeckenham, in the House of Lords. This would reduce the losses to half the £11,000,009 I'igure for 1947-48.
Corporation staffs in the year 194849 had been reduced by more than 3000. The volume of operations was up by 39 per cent, and the operating costs are down by 21 per cent. Lord Pekenham said he was confident they would begin to see, in 1949,>-50, visible effects of great efforts to streamline the organisation, improve the overall efficiency.
Viscount Swinton, a former Air Minister, earlier said there appeared to be a concealed subsidy in the Airways accounts. He calculated the true deficit for the past year was £26,000,000, not £l6,ooo.ooo.—Reuter.
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Wanganui Chronicle, 5 February 1949, Page 5
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149AIR CORPORATIONS IN BRITAIN CALLED UPON TO REDUCE DEFICITS Wanganui Chronicle, 5 February 1949, Page 5
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