iscover
Swearingen has announced that the SJ30 five passenger business jet is to be constructed in a yet-to-be-built plant in Delaware. The decision ends months of speculation as to where the SJ30 was to be built.
People, Bottom Line, Video & Book Reviews
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People
Cathay Pacific Airways has announced the appointment of Rod Eddington as Managing Director, effective April 1, 1992. The current Managing Director, Peter Sutch will become Chairman of the airline on 1 June, 1991. The Hon Roger Price MP is the new Parliamentary Secretary to the Minister for Defence. Jane Sullivan has been appointed Manager Public Relations for the CAA. The Hon Walter Jona has been appointed a Director of Australia World Airways Holdings Ltd. Ted Butcher has been appointed Chairman of the CAA for a period of three years with effect from Feb 19 1992.
Bottom Line
Garuda Indonesia has reported a profit of $130. 1m for the year ending December 31, 1991 despite the worldwide economic down-turn and the Gulf War. This is the third consecutive year that the airline has reported a profit. News Corporation Ltd has posted a before abnormal December half profit increase of 38%, from $183. 2m to $252. 2m. Lower operating costs and reduced interest payments were the main factors influencing the improved performance. However, Ansett Transport Industries contributed to the group’s $62. 7m loss from its equity accounted investments. Despite this, the group’s chief financial officer, David DeVoe expected that Ansett would show an improvement in the fourth quarter following the collapse of Compass Airlines, and a return to some stability in the local industry. Boeing has reported sales of $US29. 316($A39. 08b) and net of $US1. 57b ($A2. 09b) for 1991. Comparable figures for 1990 were sales of $US27. 596 ($A36. 79b) and net earnings of $US1. 38b ($A1. 85b). Cessna has reported strong sales, earnings and aircraft order activity again last year. Sales of $US818m ($A10. 9m) in 1991 were up from $US745m ($A9. mo) in 1990. Operating earnings increased to $US114 ($A152m) from $US96m (SA128m) in 1990. Citation deliveries accounted for 58% of the worldwide shipments of light and medium business jets. • Air New Zealand has reported an operating profit of $NZ56. 1m ($A45m) for the six months to December 31. However, direct comparison with previous figures should be treated with caution due to a change in the balance date. Improved cost efficiencies and productivity gains are cited as the main reason for the improved performance. TNT has reported a loss of $51. 1m for the half year to December 31, a worse result than had been expected. Ansett Transport Industries loss of $25. 5m contributed to the group’s poor performance. Ansett expects to show an improvement in the final quarter as the industry stabilises after the demise of Compass. can operate to the split second timing essential to make the massive raid a success.
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