SUBSTANTIAL LOSS
OPERATION OF FEDERAL AIRLINES Rec. 10 p.m. CANBERRA, Dec. 3. Trans-Australia Airlines, which is owned by the Government, lost £505,927 in the financial year ended June 30, 1947. A report tabled to-day by the Air Minister, Mr A. S. Drakeford, revealed that the total advances by the Treasury to the company up till that date were £2,170,000. The total revenue earned during the last financial year was £1,038,072. Training and operational costs amounted to £1,339,689, and general expenses and administration costs £204,300.
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Otago Daily Times, Issue 26635, 4 December 1947, Page 5
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84SUBSTANTIAL LOSS Otago Daily Times, Issue 26635, 4 December 1947, Page 5
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