Guinea Airways Buys More

Lockheeds :: Pays 7 Per Cent.

GUINEA Airways Ltd., which carries on the senior aerial transport ser vice in New Guinea, has just announced a 7 per cent, dividend on its ordinary capital, in addition to 7 per cent, on its preferences.

All friends of Guinea Airways Ltd. will be glad that it is back again in the field of substantial profit-making.

When it removed a large portion of its major equipment from New Guinea, and entered into aerial transport operations in Australia, in competition with some of the older air companies there, and when, in pioneering the Adelaide-Darwin service, it lost a couple of its most valuable machines, it suffered consider able financial losses. Some investors, who had reaped a rich harvest from previous faith in the company, became a little uneasy. However, those who stayed by their investments are now receiving their reward.

Guinea Airways reports that it has made satisfactory Government contracts for the carriage of mails and has been unexpectedly successful in purchasing from Britain two modern Lockheeds to replace those lost in accidents, so that the future of the Australian business looks satisfactory.

As far as New Guinea is concerned, the whole organisation is running very smoothly and profitably.