Guinea Airways Ltd.

Major N.G. Air Co. Reports Another Successful Half-year

AT the half-yearly meeting of Guinea Airways Ltd., held recently in Adelaide, the chairman, Mr. C. V. T. Wells, said that although ac counts were not presented at this period, share holders could rest assured that the board was m close touch with the activities of the company to the extent that regular monthly balance sheets and profit and loss accounts were compiled for their guidance. He summed up the general position briefly by saying that the company’s progress con tinued to be extremely satisfactory, and that the 25th consecutive quarterly dividend had just been declared.

The outlook for the future was so promising that he believed that they would be able to continue the present rate of dividend for some time, and also continue the downward trend of freight charges in New Guinea. The reason for this could, of course, be expressed in only one manner— namely, that the demand for their air service was increasing while, on the other hand, they were able to keep a proper check upon their expenses and see that they did not get the upper hand.

Hitherto the prime concern of Guinea Airways Limited had been to cater for cargo and heavy lifts continued Mr. Wells, and the various necessievery day life for the growing white popu lation on the goldfields areas. Passenger and tourist traffic had been a secondary consideration.

Now that the goldfields had become a regularly producing area, the company was able to turn its attention more to providing for the comfortable transport of people as well as goods. To this end a 14-passenger three-engined Ford all-metal aero plane had been purchased in England.

The figures they had been able to prepare for the current half year showed a slight improvement over the two previous half years. As these were good periods the result for the half year just dosed he said, was all the more pleasing by reason of the fact that they had been able once more to make reductions in their freight charges.

This meant that it has been necessary and pos sible to obtain additional business to cover the expenses while freight rates were falling.

To the end of August last the fleet had been responsible for carrying 18.365 tons of merchandise and 21,129 passengers. This was accomplished in 16,024 flights covering an air mileage of 1,759,041.

The shareholders could accept the define assurance of the board that the company never in a sounder position, concluded Mr. Wells, and, so far as the directors could foresee, its prospects were never better.

Mr D P. Parry, of the Bluff (New Zea land) office of the Union S.S Co Ltd arrived in Fiji on December 14 by the Aorangi to take up the position of chief clerk in the Union Co.’s Suva branch.