Australian State Air Lines First Profit
CANBERRA. Nov. 29- Labour members in Ihe House of Representatives cheered, today when the Minister for Air, Mr. T. W. White, announced that ihe Government-owned trans-Austra-lia Airlines had made its first annual profit. This was £214,000, representing 4.9 per cent on capital. Mr White said the profit would be used to make payments of interest on Treasury advances and to reduce an accumulated deficit of £900,000. The airline was stated by the Chifley Government in 1946.
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Wanganui Chronicle, 2 December 1950, Page 5
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82Australian State Air Lines First Profit Wanganui Chronicle, 2 December 1950, Page 5
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