iscover
Cessna has formally launched the Citation X, described as the "world's fastest business jet and based on the current top of the range Citation Ill. First flight of the GMA 3007A powered $US13m bizjet is scheduled for March 1993. Over a dozen are already on order, with the first delivery planned for 1995.
People & Bottom Line
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The Federal Airports Corporation (FAC) has posted a $43. 6m 1989/90 financial year operating profit on revenues of $266m. Profit before interest paid to the Federal Government was $90. 8m; a dividend of $Sm was paid. The FAC invested $100m in 19 airports during the year, double that of 1988/89. • Qantas has announced a net profit of $12. 1m for the 1989/90 financial year, down from 1988/89’s $176. 8m.
Normal group operations recorded a $125. 2m loss ($177. 2m loss in 1989/90) but an abnormal gain of $107. 3m from aircraft sales and a $30m tax benefit resulted in the $12. 1m profit. The pilots’ dispute slashed pre-tax operating profit by $165m, though pax carried did increase 5. 8% to 4. 23m.
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