iscover
American General Aircraft Corp is now manufacturing improved versions of the original Grumman American Tiger. AGAC have accepted orders for over 50 of the updated, four place, 180hp tourers at a base price of $US88,900. (Jim Thorn) as being of considerable long term benefit to their existing Australian operation in addition to allowing the firm the opportunity to acquire an entry into what is the world's single largest GA aviation market.
People & Bottom Line
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Bottom Line
• Australian Airlines has announced a net operating profit of $8. 97m for the six months to 31 December, comparing with the pilots’ dispute induced $48. 03m loss incurred in the same period 1989. Chairman Ted Harris noted post-deregulation fare discounting had cut into profit margins.
• Hawker de Havilland has announced a group net operating profit for the year ending 31 December 1990 of $11m, marginally lower than the $11. 7m recorded in the previous year. Overall group revenue was $281. 7m (up from $280. 9m), with exports contributing $157 9m (up from $4. 1m) while domestic turnover was $123. 8m (down $3. 3m). • American Airlines has announced a loss of $US195. 6m for the first quarter of 1991, compared with a $US19. 3m loss for the same period 1990. American has blamed the loss on the US recession and the drop in traffic caused by the Gulf War. • Cathay Pacific has declared an operating profit of $HK3. 6bn ($A600m) for 1990. Load factor fell 1. 3 points to 74. 3%.
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