Profit and Loss Across
p. 21 · Read in the full issue
the Tasman
IT was reported in Australian papers in November that British Commonwealth Pacific Airlines, in the 12 months to March 31, 1953, lost £A283,035; but that Qantas Empire Airways and Tasman Em pire Airways made profits —of £A211,932 and £A39,782 respectively.
In October, we reported that TEAL had lost £lOO,OOO Stg. on the trans-Tasman route during that year; and £BO,OOO Stg. on the Coral route.
We have not been able to dis cover why this company has been credited with a profit in Australia and, at the same time, with a loss in New Zealand.
A TEAL spokesman could give our New Zealand representative no ex plantation. It possible that Australia is referring to 1951-52, when TEAL made a profit of £NZ31,812, which is £A39,765. We previously recorded this, in error, as a loss.
In respect of the loss on the Coral Route: —This is apparently £40,000 Stg for 1952-53 as this route is the sole responsibility of New Zealand and is not, as is usually believed, shared by the other partners in TEAL—Australia and UK. Therefore, NZ’s share of £40,000 Stg is, in fact, the whole loss and not just half of it, as we in dicated in our October article.