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Airline Affairs
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Australian Logs Record Profit:
For the year ending June 30, 1987, Australian Airlines recorded a record consolidated net profit of $39. 1m. This represented a 3% increase over the previous year’s figure of $37. 7m though was largely brought about by the sale of aircraft in the 86/87 year. Eliminating the sale of aircraft, Australia’s net operating profit was $10. 5m.
The sale of aircraft-27278,3 DC-9s and an A300 – was a tactical move geared to balance the increased interest payments due on the 12 new 737-300 twinjets. If anything, the year’s performance again highlights the need for a vastly expanded capital base for the Government owned domestic. Most financial advisors suggest that with its present meagre capitalization of a mere $130m, the airline requires a further injection of at least $300m for it to be viable in a liberalised airline environment.
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