Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698070581430.pdf (Guyana)
GUYANA AIRWAYS CORPORATION '· 1975 ANNUAL REPORT AND ACCOUNTS TABLE OF CO!TTENT A) B) Chairman1s Remarks • • • •• • • •• • •• • • • • • • • Foreward • • • •• • • • • • • • • • • • • • • • • Annual Report 1975 .

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7 -17 1 5 6 C ) Statistics ••• • •• • •• Operational Appendix Appendix • • • • •• • • • • • A • • • • • • B • • .

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Appendix C •• .

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�4 -29 D) Final Accounts ••..•..•••.•..•.. GUYANA AIRWAYS CORPORATION ANNUAL REPORr 197$ .

Directors• BePort Your Directors are pleased to present their Anmal Report and append hereto ·th& Audited .Accounts Bild Statistics tor the.

:,aar ..• .

ended )lit llecelli>er 1975.

·• 11pon re!loctim, ..... 1oo1<· back at t.he acti1'1t1-ot the.

· · · in that the.--18 am.,_ _ :,ear w.l.th a certain-t ot.aatistaction ob-jecU ..... •et ..,. ""
et regular moetinga held although not miDg comp].etacy to the levels ot-our- �ton.. -..re PartiallT-achieved, and in the circmmtancu, gi'V8 � during the JIIU',· ·- Firltl;r, we had aet ourselves the task of enauring thd Ql:o'm,a Airwa,,D Corporation 1:.raDaport provided a sate, reliable am reg,,lar servios to the public at prices they could a1'ford0 malclng the .airlines pronde area!!.

mich were alrsadT Secondl;r, we -worked towards an aoential.

link to all developnentaJ.


identified and to those subsequsntl;y made .knolm to us ey- our Clcmlmment.

To achieve this goal we kept as � ot our om air­ craft as .airworth7 as possibla so that they could tl;r people .at-a - -.t • • notice to sny part .

of the co,mt:ry they nshed to go._ and eesentia]._ suppliea to any part of the country where these suppl1ea .

vars needed.

1-1.ng the F1neJJy1 we embarked on a programme of educatim:t. a1mad at.
level ot customer service given to the public Bild the activities ot all the sections in as coheaift a c-.ordinated me111er as poasibla so as to ensure the success ot our pJ.z.
- 2 It is with some pride therefore, that we report our efforts have not gone unrewarded and we have been able to increase our oalc, from the 1974 level of 6.41 million to $, 1,26 in 197S, Your Directol'S have also been exercising their minds to the extension of the Corporation's activities and to this end can boast that we have not adopted an insular approach to our planning.
Today,, we are operating in the Caricom area., a successful scheduled freighter service, co•rer1.ng Manaus, and p:'-aces as far apart as Miami in the UoS.A.

Additionally, .re WBre able to continue acting as general sales agent for a number of international as B.W.I.A., British Airways, S.L�M .. , Air France and Air Cubana.

airlines such You may wonder why we entered the international acene and quite rightly so, since it d.a one of intense competition.
There are a number of good reasons the international freighter for this decision, field presented as our studies showed a very lucrative gap in the air transport arena, greater flexibility in the field of OP­ erationa and aircraft utilisation and a general and better redistribution.
The wisd07n of l;his decisi::m is shown in the overall financial position of the Corrorationo Aircraft ;Jtilisati<lll The total number of flying houra on dolll;lstic routes was 7629,o:3 compared with 6916:20 hou.."B in 1974, an increase of 712•43 or 10.3%.
(r: international routes, :in which the Corporation is en­ gaged, recorded flying hours were 2277,25 compared w.lth 2149•34 in 1974 a S.94% increase over the previous year of 127:51 hours for the year where we were able to make surpluses of about $23$,000 for the benefit and use of our country and the industry.

I I - 3 MJ.RKETJNG ACTIVITIF.8 In the marketing area, we progrSJlll18d our activities to cater 'for a larger s hare of t� market lost to us by privately chartered aircraft.
We· have also sharpened our techniques in this "1ich direction by gearing operations to maximise internal travel has been encouraged on a national basis by our Government.

Anx:,ng the measures adopted., have been the introduction of pleasure trips to places of scenic beauty in the interior and improving the Corporation's and many interior d istricts for ease in making travel arrangemente.
level of cuato�r service at New Amsterdam, Roeehall At Ogle, facilities were expanded and improved to accomodate the inca,eased passenger traffic 1'1.ich occurred.

TRAINING Maintaining an adequate staff of trained engineers and pilots to service and fly the Corporation's remained a problem and measures were taken to train suitable fleet of aircraft personnel at approved educational establistunente both internally and externally for these very critical aspects of our activities.
Despite these constraints, the Corporation was able to supply the Guyana Defence Force with the skills it required , to assist that Organisation in roonitoring and perfonning its duties at the many station.d which it has to mann.

Measures were al.au taken to train and recruit persorm.el employed in other fields of activity.

Other aepects of training adopted, ing and seminars.
have been by way of on-the-job train­ STAFF The Corporation has a lBo been conscious of the unemploy­ ment problem and hae always been ready to make its contribution towards alleviating the attendant hardahips "1ich ariae there!,.....

- 4 - In this comection, i t has provided 103 new jobs during 197, for persons with payroll about 484 persons emplo��ed varying skills.

Today., the Corporation has on its in the areas o:f Maintenance., Operations, Ground Services., Commercial and Finance.
SPORTS AND WELFARE The appointment of a Guyatac Sports Organiser to which the Corporation the skills of belongs has in no small measure gone to improve employees., participating in inter-Corporation games.

The Corporation has actively been involved in many o:f the competi­ ., and from the interest sho"WD.., it is likely that tions organised more and more employees will ultimate],y become involved in sport.
It is also appropriate to mention that in keeping with Governrnent 1s policy to enable each worker to participate in build­ ing his own hone by way of self-help scbemes, paid leave was given to e�loyees who were actively engaged in the construction ot their hones and everyone who participatedin the exercise financially than he would have been 1f he had remained at was no woree off work.

Put mother way, his total benefits arising from employnent 1d.

th the Corporation showed was preserved.
Enquiries made subsequently all employees WE1re apprecia:t,ive of the gesture made, and many were lou� in their praise for the skills they had acquired or being already in possession of them, were allowed t he time and monetary aseistance given living standards, to use these skills in pursuance of their own FINANCE AND ACCOUNTS (a)Revenue It is heartening to record that in each of the Corporation increase in revenue was recorded., and at 11.26 1s area of activity, million topped the 1 974 figure of $8 .41 million by about $2.
85 million - > - or 33.88%.
Contribution to this increase came from other sales and services which accounted for $ ..$'2 million or about 18%1 domestic $1.JJ mill.ion or 46,6% and international operations $1.00 mill.ion or about JS%, (b)Expenditure It is rather expensive to operate a :f'leet of aircraft as varied as those owned by the Corporation and this has to a considerable extent hindered the organiaation from being able to reduce its costs of operatict11 furth ermore, prior year expenses of $183.000 now brought into accounts, increased the total cost figure to $10•6 million in 197>• Nevertheless, route align..,nt should provide us with oppor­ tunities for continued improvement in capacity control, fleet utilisation, traffic servicing efficency and related :measures to hold down the break-even load factor • (c)Surplus make a Despite these adverse situations, the Corporation was able to surplus of $624,6!52 before tax, but after allowing for depreciation of this figure the Corporations' liability for Income, Property and Corporation tax is $389,480 "1ich 8lll0unt the Corporation has paid, Of the remaining $2)!,,172, your directors propose making a contribu­ tion to National Development of $1001000 and retaining the remainder as a realllll:l for contingencies..
If this is approved., the Corporation wow.d have made a contribution of $489,480 to the Country's Revenue • -- -6 -=====c-== FOR EWARD Guyana Ai:rways Corporation was established 1973, by Order No.

71 of 1963, made under o n 1st September the Public Corporation•s taking over the assets and liabilities Guiana Airways (Govt.}.

Ordinance No.
Ordinance No.

23 of 1962, from British The Objective of Guyana Airways Corporation within the country and between Guyana and a.re is to carry out safe and regular air transportation services other countries, operated an essential communications of development and settlement interior.

and to ensure that such services p rices.


This airline serves as link for the various areas of people throughout at reasonable the In September 1971, under the Public Corporations Amendment Act No:14 of 1971, Guyana Airways, other Corporations, The Vice President of Guystac became the Corporation's Chairman and the General Manager, along with of Gu19t&oe ca�a under the direction its Deputy Chall"mall.

The Airlir,, is aivided into six departments, viz.


Engineering, Operations Finance & Ground Services, Accounts and Management.

Apa.rt from its own domestic the Corporation freighter scheduled operates service to Miami in an Commercial, interior passenger and cargo services, international the u.s.Ao, It also a.:.ta international S .L.M ., Air France, Manaus in Brazil and other Ca.ricom r-.� General Sales Agent tor a. number ot airlines -British Airways, B.W.I.A., Countries.

and Air Cubana.
and Air Cubana.

- 7 - GUYANA AIRWAYS CORPORATION Submitted herewith is the Annual Report of Guyana Corporation 2.

Activities tor the year ·1975.

in the various departmant s were as tollowe:- ENGINEERING 3.

As in the past, the Engineering suffered an acute shortage during the year.

These numbered were required to service the following of fully trained Engineers only five and they aircraft:- Department 300 series 2 2 2 5' 1 2 2 1 2 1 1 4.
The high percentage Caribous Douglas Dakota DC-3 (C-47) Twin Otter Britten-Norman Islander ieechcratt Super King Air 200 Alouette 111 SA31-9B Helicopter Helio Courier H295' Cessna Skylane 182 Cessna U206F Cessna 31 00 Cessna 337 Skymaster of engine and propeller BN2A-6 & 27 which had to be largely to necessary to divide the department the increased The introduction changes due to premature failure, carried out, contributed cost of spares and overtime.
rotorcraft made it into two groups -fixed wing and rotary wing -each with its own Superintendent, 5', The storage conditions generally not to C,A.�.

standards have to be extended to accommodate HS 748 aircraft parts was of aircraft area will and storage due to arrive in 1977, the spares tor the of the 8 OPERATIONS 6.
At the end of 1975, the Pilot's stood at 20, Four Pilots had resigned Establishment during the year but one was subsequently on full time basis in December, was seconded to the Guyana Defence Force, while one Captain re-employe d 7, The ground staff totalled 12 at the of the year (one of whom is attending beginning U.G, tull-t1111e), However, two Operations I were recruited for training of the staff who ""re sranted Pilots Scholarships, the end of the year the 14, including stood at granted pilots scholarships, GROUND SERVICES At ground staff establishment the two members who ware to replace two members Assistants Timehri 8, Lack of suitable equipment to cope with the traffic at this station hampered the increased development of long term plans, and was also one of the main causes of the lengthy delays and cancellations of bond space for both flights which occurred, Inadequate , caused many domestic for international problems, Changes• in schedules a high turn over of staff presented flights and problems of delays, clash of service, serious effect on efficiency.
and international freight, etc., and had a Ogle 9, In early January/February, alterations ware done to the Terminal Building passenger by the addition of a lounge.

There waa an increase in both -9 - passenger and cargo traffic, introduction of the Upper Ma.zaruni Development operationa from Ogle.

Ramp especially since the Ruimveldt Authority 10.

This section continued to handle export and domestic cargo, cargo sales and transport.
The Ground Services Manager ceased to function Ramp from the month of April as he was appointed act as General Manager.

An extension to the transit shed became necessary because of i ncreased traffic, mainly in International Freight operations.

Thiswas carried out, but efforts were not successful the access road leading to the Ramp re-surfaced to have • at the to Interior Stations 11.

A better calibre of agents than previously, and they absorbed Stations given very well.
The major problem was was selected for the Interior the training the delay experienced of revenue documents which was due to the irregularity of the services.

A few visits were made to the stations and complaints by residents action.

in the submission noted for corrective 12 • Appendix A (figures 1,2 & 3) sets out the comparison traffic -passenger, o�go and mail• carried over the years 1971 -1975. of domestic International C�s;o 012erationa 13.
The following (a)Mia/Geo/Mia (b)Geo/BVB/Mao/Geo 9 ( C) Gecfl:lao/Geo 39 fd) Geo/BVB/Geo services were operated in 1975 - 137 flights II 8 II � 10 - Schedule (a} included a number of diversions to St, Lucia, Antigua, Spain, Belize and Paramaribo.
Kingston, Barbados, Port of traffic within the Caribbean area year, The DC6 period January - the number of flights operatsd -71 Increased """ reflected in in 1 975 as against 74 the previous freighter was operated during the April but from May month onwards it became necessary, to operate an Electra because of the volume of traffic, in addition to the DC6.
COMMERCIAL 14, Although capture forty-four Internatio or only obtained one per cent (1�} ever 1974, nevertheless our all round performance high when compared with the preceeding this Department was unable to per cent (44�} or the total nal passenger Sales as planned• heving only 41� (see table betow}, an increase was exceedingly year, AGENCY SALES-G,A,C, v/s TRAVEL AGENCIES 1972 a nd 1974 CARRIE!< YEAR B.W.I.A.
BRITISH AIRWAYS OTHER 1 975 <: 1974 197,*197 197�197 1975 1974 -· TOTAL .. GAC • AIES MAIIKET SHARE� 3,748,685 40 2,738,622 39 2,698,281 1 , 775,799 7�7,6� 3, 1 � 41 7,194,644 4,587,605 40 t TRAVEL MARKET AGENCY!I!
SBARB� 5,673,280 60 4,243,935 61 3, 785,41 '5' 2,475,'577 58 58 720,328 67,%?·-· --� 10,179,023 59 6,807,054 60 *Revised (see a.ppendix B-Figure 4) 11 INTERNATIONAL SERVICE sales topped last ional passenger 15, Internat year•s figure of $4,6m b7 $2,6n.c� i�creaso,o1'·56,8%, 1975 sales reached a new high point of $7,2m, Commission increased 1974 figure of $757,000 commission receivable by $380,000 bringing to $956,000, or 66 per cent over the 1975 total Tbe DISTRICT OFFICES DISTRICT PROJECTION 1975 ACTUAL INCRBASB i!
ACTUAL i!

% 180,361 19,280 12 New Amsterdam 161,081 2 Rose Hall 350,000 356,908 6,908 21 Linden 20J1000 2!12, 1 J1 !ls,1J1 New Amsterdam 16.
It ia heartening to know that this Office has surpassed the amount percent (12%) from its first full year or operation, We know this is not its full potential, and muoh more is expected of sales projected from this office in the 1976/1977 period, by twelve Rose Hall 17, Up to 1974 Rose Hall never seemed able to equate and/or surpass projected year, Tbis increased year however, it did, and a surplus of two per cent (all was achieved, $58,000 er nineteen Tbe improvement over 197[J. was per cent (19%), over each preceeding sales although sales steadily Linden 18, Tbis office realised an increase 01' 42%-or $73,000, moving from $172,000 in 1975, The increase in 1974 to $245,000 over projected sales totalled 12 $42,000 or twenty-one DOMEsTIC OPERATIONS 19.
Revenue received per cent (21 %) , from passenger tra.1'f1c flights showed an increase for special and schedule of 43% or $!,16,000, an impressive improvement ove>' 1974, moving from $1,212,000 to $1,728,000 in 1975; by 7,801 or Actual passenger twenty per cent (20%), TotaJ.
passenger traffic for 1975 was 46,622 as against 38,821 (revised) FINANCE & ACCOUNTS traffic increased in 1974• 20. earned in 1975 was The total revenue ,90 which is an increase of $2,850,227,19 mich is an increase $11,261,581 or 33,88% over 1974, Eicpenditure $10,636,929,91, or 32,87% over 1974, The surplus on 1975 operations amounted to $624,6!>1 ,99 compared with the 1974 surplus of $405,923 53,88% over 1974 (see appendix Domestic ,81, a.n increase of $218,728.18 C figure 6 and 7), of $2,631,499,01 for the year was Operations or during 1975 Operations 21, Revenue from domestic was $5,079,508,51 an increase of $1,324,369,79 or revenue from domestic 35.27� over 1974, Expenditur•e increase of $922,609,83 surplus made in 1975 was $478,535,82 surplus of $76,775,86, $401,759.96.
amounted to $4,600,972,69 or 25.08% over 1974, The with & compared in 1974, an inorease of operations during an Internatiohal Operations Operations continued 22. International during 1975, The Revenue earned in 1975 amounted to $4,201,554.88 in 1974; an increase of $1,003,637,82 or 31 ,38%, Expenditure with $3,197,917,06 compared to expand �.
'i 3 an increase to $3,542,134,16 18 or 27.72� over expenditure incurred during 1975.amounted of $768,727, in 1974, Surplus on International 1975 was $659,420,72 $424,510,88 during 1974, an increase or 55,34�.
compared with a surplus of Operations during of $234,910,64 Other St.J,es and S ervioes 23, Revenue from Agency operations continued its ,58 or 35,81 � more UpWll.l'd trend and amounts received in 1975 amounted to $1 ,980,S, 8.5'1, wllich is $522,219 The actual aJ.so increased, than 1974, Expenditure 66, an· e in 1975 wes $1,107,231, amount of expenditur increase of $426,549,16 or 62.66� over 1974, in 1975 was $873,286,85 on agency operations with $777,616,43 in 1974, an increase of $95,670,42 or 12 .3�.
Surplus compared Overhead 24, overheads continued its upWll.l'd trend during 1975, The actual amount during that year wes $658,819.87 compared with $513,901,30 $144,918.57 or 28,2�.

Flying Hours in 1974, an incl'8ase of during 1975 hours were recorded flying hours increased 25.
Domestic as 7,629:03 hours in 1974, The actual increase 10,3�, In international flying the amount of hours recorded wes 2,277,25, compared with 2,149,54 hours in 1974, an increase wes 712,43 or of 127,51 or 5,91)( Debts Outstanding compared with 6,916:20 26, The position did not improve in 1975, and we continue outstanding to suffer from non-collection debts.

Efforts have been made to oolleot of 14 but the results have not been encouraging.

Maybe a concerted in the outst.:.
:.ndin� wili see a de�r.oc.se as at 31st December 1975, were as follows :- effort on behalf of the CorporeJJion amounts which t Debtors (a)Governmen (b)General Debtors ( c)Interline $835,753 ,34 753,557.95 580,672.62 $2,168,983.91 with 1974 figures which were as follows:­ Compared (a)Government Debtors (b)General Debtors (c)Interline -1,030,716.80 404,210.88 720,840.75 $ 2,1 '25,768,lj.3 The Increase will be : - percentage and/or decbease in amount and (a)Government Debtore - (b)General Debtors (c)Interline Increase� Decreaae) (194, 3 ,46) Percentage 349,347.07 (140,168.13) 18 .9 86.43 19.44 o.66 (See appendix C figures 8 and 9) Bank Balances $ 14,21',,48 27.
For the second year running there was no need to use borrowed funds.
During the year there was a,n increase Hundred Thousand hundred thousand dollars (900,000r.to one million, dollars (1,400,000), in our savings accounts from Nine four The balances were: Guyana National Bank -Current Account Guyana National Co-operative Co-operative $2,430,725.79 Bank -savings Account thereon Interest Accrued South East First National Bank 1,400,000.00 45,694.38 136,525.56 of Miami -Current Account $ 4,912,947,73 -15 - The Current Account balance includes received from Guystao to an 28. amount of $1,917,446,15 cover down-payment Payment was to be effected MANAGEMENT in January 1976, on 2 HLwker Siddeley 748 aircraft, for the Corporation,ror 29, Unfortunately the greater part of the year, it lost the services of the General Manager Mr. R.L.
Abrams, who met in� serious accident Mr. Abrams bad to late in March.

be flown to Britain for treatment and he was still there at the end of the year.

Mr. Norris Williams, Ground Services place of Mr. Abrams • 30, Negotiations with the Pilot's of service were in S eptember while talks were still in revised salaries concluded progress at the end of the year with the C.c,w.u.

and L,A.E .A, Unions.

31.


There were 484 employees at Manager, acted aa General Manager in and conditions the end of the Union for year as against 381 at the end or 1974, 32, Operational attached.

statistics for the year are Training 33, Training within tbe Corporation was carried out during the year as follows:- 34, Two Senior Engineers Manufacturer's Helicopter Paris.

They were subsequently a.A.A..


Examinations five engineers Mechanics Helicopter attended pursued training in Texas on the Bell 212 Manufacturers training course.

attended a. six months Course at Heli-Union successful i� at the in Parise On behalt o� the G.D.F.

Beechcratt courses while two 16 35, Three Fir&t Officers were sent to 11' light during the year for A,L,T.P, Safety International at the traini�, and all three were successful a Beechcratt course.
Three Senior Captains Course at Witchita, Defence Force, which lasted for 120:45 training hours were which was 49:43 attended Kansas on behalf of the Guyana days.

about fourteen done on our aircraft, over last year's figures.

36, Examinations (Cargo and Passenger) were taken both locally and over seas, the Ground Services Department.
by staff from 37, Training Courses were successfully staff locally and overseas,by completed, from the Commercial again both Department, --- -17 - GuYANA AIRWAYS CORPORATION at December Hon.

G. King Vice-President, Guystac - Chai 1'1111>11 N.Williams Genel'al Managel'(ag.)

&: Deputy Chail'man Captain G. Spence Asst.

to tbeG.M.

Mr. R. Dorntord Mre A., Halls Capt.

M.G.

Chan-A-Sue Ml'.

J. Lamb el' t Chief E111gineel' - Financial - Commel'cial Chief Pilot Contl'ollel' Managel' Ml's.
E. Woo•Min g SeC1'8tal'Y Mr., K. Percival Mr. J.R. Vieira, AoA.

Ml'.

C.H.

Dasilva, FCIS - re GUYANA AIRWAYS CORPORATION C PE:1 .. TI OH.1L �i-'I'IS ·rrcs SCHEDULE SPECIAL CHARTER TOTAL BLOCK HOURS FLOWN BY AIBCRAFT TYPE 1•DC-3 2.CARIBOU 3 • TWIN OTTER 4.CESSNA 5.C-46 749 859 6c8 1,903 1 778 230 325 514 699 2,122 2,086 324 2,457 93 47 94 37g 2,193 1,678 7,129 Totals may not add up due to rounding.
MILEAGE FLOWN BY AIBCRAFr TYPE 1.DC-3 2.CARIBOU 3 • TWJN OTTER 4.CESSNA 5.C-46 110,398 1 26,611 94,516 295,830 120,944 35,754 321,769 75,76c 10 8,663 50,367 324,123 381,951 207 59,879 19,276 8,659 19,483 68,538 TOTAL: 500,951 343,188 262,725 1,106,864 PASSENGE!l, CARRIED (NO.)

PASSENGER MIS, 1.I.QW _; 6,428,400 42,856 3,766 9,547 SEAT MIS, AVAILABLE 11,296,438 PASSENGER LOAD FACTOR 56.9% TOTAL WEIGHT CARRIED '· .
, / (tllsl (a)PASSENGER & BAGGAGE (LBS) (LBS) (b)EXCESS BAGGAGE 7,071,240 113,216 (c)CARGO (LBS) (d)MAIL (LBS) AVAILABLE TON MILES TON MILES FIDWN WEIGHT IDAD FACTOR 9,704,961 7,731,887 ; 4,9BJ,408 22,420,256 621,390 1,575,255 9,267,885 113,216 12,990,093 2,471,869 48,636 7,110,071 426 3,408,153 49,062 1,035,816 694,46c 1,148,194 644,610 2,832,556 653,6c5 394,440 53.4% 1,733,850 61.2% 56.2% NOTES: To show a more meaningful.
Pax Load £actor the schedu1e and special service which are primarily for transporting pax and cargo respectively have been seperated.

Only the schedul.e service will now show Pax Load Facto�.

APPENDIX A.

FIGURE 1.

PAX TRAFFIC 1971-1975 DOMESTIC OPE RATION ND, OF PAX ITHOUSANDSI 60 50 40 30 20 10 0 1971 1972 1973 1974 1975 FIGURE 2.

CARGO TRAFFIC 1971 -1975 VOLUME OF CARGO (MN lbs) 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0 1974 1975 APPENDIX A (CONT'D) FIGURE 3.
MAIL TRAFFIC 1971 -1975 MAIL (000 lbs) 70 60 60 40 30 20 10 1971 1972 1973 1974 1975 INTERNATIONAL PAX SALES APPENDIX B FIGURE "4" G.A.C.

vs TRAVEL AGENTS 1971 -1975 PAX SALES IS MN) 12.0 10.0 8.0 �o 4.0 4.0 2.0 0 1971 - G.A.C.

TRAVEL AGENTS 10.1 6.8 5.1 3.3 FIGURE "5" DISTRICT OFFICE SALES ACTUAL vs PROJECTION 1975 SALES IS 0001 400 300 200 100 0 357 PROJECTION ACTUAL D - ,.
245 180 ROSEHALL LINDEN NEW AMSTERDAM FINANCIAL RESULTS APPENDIXC FIGURE 6 OPERATING REVENUES 1971 -1975 MILLIONS ,�o OF DOLLARS 10.0 S.0 6.0 �o 2.0 1971 1972 1973 1974 1975 FIGURE "7" OPERATING SURPLUS/DEFICIT ( - ) THOUSANDS OF OOL LARS '900 • 600 • 300 0 • 300 • 600 • 900 -1200 OPERATING SURPLUS 625 945 OPERATING DEFICIT 1971 1972 1973 1974 1975 APPENDIX C (CONT'D) FIGURE "8" PERCENT AGE OF TOTAL DEBT.

BY DEBTORS 1975 & 1974 GENERAL GOV'T GOVT INTERLINE INTERLINE GENERAL FIGURE "9" OUTSTANDING DEBTS.
1972-1975 2,169 THOUSANDS OF DOLLARS.

2,200 2.000 1,800 1.1100 1,ioo 1,200 1,000 ... 1,037 0 '- - 1972 1973 1974 1975 23rd September, 1976 AUDITORS' REPORT We have obtained all the information and explanationa which to the beat of our knowladge for the purpose of our audit.

In our opinion proper books have bean kept by the Corporation of account of those booka.
from our examination and belief wera necessary so far as appears Wa hava examined tha annexed Balance which are in agreement and Losa Account accounta.

In our opinion end according Sheet givaa a trua and fair view of the state of tha Corpors­ tion•s affairs Loae Account givaa a true and fair view of the eurplus for the year and to the best of our infox:mation given to ua, tha Balance to tha explanations as at 3lat December, 1975.
Tha Profit and with the books and ended on that d ate • Sheet and Profit THOMAS, (Sgd,) STOLL, DIAS & CO. ACCOUNTANTc • I GL/Yfl,NA, f!,1RWAYS CORPORATI �· !l/M"CI §HEET AS AJ 1 >f!

:T DECEM:OCR 1 1975 ON ' � CAPJJAL &.

RESERVES B,300,619.22 169,448.01 Cepitel (Note 1) Add Profit&.
Lese (Surplus) Account B,470,067.23 1,912,239.66 Canadian Government Leen Loan Account (HS 74B) G.uyetec 92.S, 217, 57 Current Sundry Creditcra Balencea Liabilitie..1 end Credit West Indian Ai1'Waye Airweya 317,703.72 5631338047 21,315.03 71,323.83 British British Cuban.a Airlines Surinam Air France Accrued 112,504,B9 Expenses Airweya Limited • B,300,619 022 • 404,620,09 B, 105,239,31 2,2B5,177,49 41147,B96,61 1,249,135,57 996, 730.B3 l,335,i92.43 BO,B40,B6 1451332,4B l,OB2.95 UJ.

616,3§ .J.2.li.
616,3§ .J.2.li.

• fIXEP ASSETS _ AT COST OBSOLESCENCE BALANCE IEPRECIATION ' ' . '

312,362,93 Land&.

Building .4871863,67 2051069,72 282,793.95 51868,914, 72 Aircraft 735,323,64 Airframe 7,1891408, 71 l, 733,176,BO 514561231,91 Engines&.

Radio 1,927,635,32 7DB,654,D2 l121B19Bl,30 Spares 205,673.24 44,Bl7.93 Radie • Engineering&.

Plant&.

EquipmEnt furniture&.

�,, Office Equip­ 560, 795,05 3301914.B4 229,BB0.21 279,980.59 1 85,342,D2 94,63B,57 l,!�I,!,��?
:��- 7,282,525,94 !E,���,!,���:�!---�l!§�1!�I��Q Capital Werk-in Progress 2,000.00 261,55 60.00 Cargo Bond - Ramp, Ruimveldt Cargo Bend -Timehri Shed Timehri Battery Terminal Bemichi Bertice Terminal Ogle Improvement ALM/SLM Office 86,628.10 2,000.00 261.55 6D.OD 1,05B.os l5,B07,B7 2,69],44 2,n1.55 lOB,513.0.l.

130,400,25 2,993,B54.7B Current Asset& Stock &.

Storea Sundry Debters Balances &.

Debit 2,102!


736.BS Ceah et Benk (including 230,D5l,59 S,6B2,594,99 5,253.25 Caah in Hand fixed Deposit) S,9B2,2B2,22 4,DB0.10 5,232,245.13 ll,B99,008 09D .. �l �.Qi\l,,!l!� 113,033.46 Provision for Taxation (Nate 2) 112,506, ..... -............ .

743,86 3,926,531,4B 37B,l30,00 B3,39B,20 2116B6,52 P;eeaid Expensea Insruance Other 91,889.20 6l1D37.B4 $19,442.974.B!I ·=··-···"'··· S12,so6, 74J.B6 ..

==., .............. .. 152,927.0 4 119,442,974.89 ........... ,.
.. = ...... -'2..l.- GUYANA AIRWAYS CORPORATION NOTES TO THE ACCOUNTS �.�T DE�EMBEB,.12:Ii NOTE l -CAPITAL 7t,( Perpetual Debentures Timehri Gevernment Development of Guyana Loan let Twin Otter Aircraft 2nd Twin Otter Aircraft Caribou end Spares Radio Equipment (Circular (26/1/73 - No.

12/1973 dated ) Ref, No, GSCil/1/15) NOTE 2 -PROVISION FOR TAXATION Year 1976 Property Tax Year 1976 Income end Corporation Taxee !
9301000.00 75,DOO.OO 972,B04.00 525,360 .oo , 8171243.98 4,753,992.78 226,216.46 SB,300,619.22 .. ,.

... ,.,===•==== 78,130,0D 300,000,00 $378,130,00 •========= DIHECT ALLOCATED 1974 COST DAKOTA CARIBOU l'l'IN OTTER CESSNA A IRCRArT TOTAL • 'ffERNATIONAL LEASED AIRCRAFT s $ 1,598,966.03 52,694.70 1,2u, 1n.11 11406,UD.39 161,257 • 73 116531520,89 338,162, J98131B,J2 68 46,667.75 JBJ,341,BB Wet Leese Aircraft Insurance Fuel & Oil Consumption Consumption Landing Feee &, Miecell.eneoue Handling C, of A, etc.
Licences, of Enginss of Spares J,271,57 401BB50l2 6JJ1B22.J2 3,974.22 25,747.70 329,777.85 136,073, 75 100�962.13 100,426.75 Jn,s22.12 240,766.70 332,362.75 67,300.35 198,713.32 5,420.44 5,154.47 99,773.57 7l,621.l5 a,564.
91 7BD0JJ 7.00 2,247.15 575.46 75 3�101,47 1,610.39 1, gen nn nn,c nr, '>nn nn ,u,uu ;::,;::,u.uu Juu,uu - 31503,89 13,427.14 11884.DD s, 713.48 GUYANA AIRWAYS CORPORATION FROf'IT AND LOSS ACCOUNT FOR THE YEAR ENDED J!ST D[CEMBER 1 1975 C-46 LEASED s 1974 s s JD9,601,D2 119081S67,05 1,296,028,26 '271,882,98 21,671.68 2,1231225,50 41326,3DD.7J 4811788,49 92,827,53 78 715,519.

72 513, 510, 57,277.81 - 651,682.46 39,591.66 9,134,22 461,_116,20 4,.::12,651,21 ____ ., _____ ,.,..
LI�ALLDCATED COSTS 3,542,134,16 6ll,376,46 J.057,790.18 470,431,87 25,735.60 309,601,02 6,017,069.29 6,953,055.78 ========= .. =======<===""""'"'�"'"'"'"'"'""'"" .... ,,,,,, .. .,,,.., •• .,.,.,.,,,,,,, ................. ,.,,,, .... ====="'="'="'=""=""""'"'"'"'"'"'"'"'-'"I:"'====="'=·="'"'"'"'"'"""' 625,9l3.BO 462,702.52 l37,03D,2D 508,067, Operations Engineering Avionics Ground Servicee 79 & Electrical 6,146,365,52 Surplus on Aircraft Operation C/D 806,690,26 - ,.,,, ..
., ... .,,,, ........ 6,953,055.78 ., 811653,39 3381 7ll.B6 260,317.25 184,442.74 329,458,56 Engineering Ground Services • Cornmerciel Finance Management & Accounts -Handling other Air'planee n n l,194,58J.80 l34,235,25 l,547,98 l,043,32 51344,18 l,516.00 .838, 791.53 Jl,556, 79 56,370.34 .. _£2,264,989.19 .....

.,,., .. .,.,,,,.,,,,,,,,.


relative to previoue yeare -G,C.F, Expenditure Reecue Operations Keiteur Airetrip of DC6 -Biscayne Selvage Survey of New Airstrip Fraliminery Provision B2lance Expenees Debts for Doubtful Carried Down Bay -International Freighter 678,080,Dl 54l,l57,87 164,968,59 445,980.19 1,e30,J.86,66 7,847,255.95 1,433,807.44 9,281,063,39 =•=======ees 6,953,055,78 .,,.,..,,,,..,.,.,.,,,a:.
- 806,690,26 632,690,41 353,907 ,4l 170,043,22 113,532,00 63,86�,95 95,498,45 668,970,28 342,762.93 277,339,85" J8,1,,4801 0i: 1, 766,051,53 182,850,90 1,334,036,99 124,261,94 113,000,00 l,352,423,52 SJ,414,325.95 12,264,959,19 .... � ..
., ..... .,.,,,,,,, ·--�·=== .......... REVENUE AIRCRAFT Passages Excess &ggages F:c:eight t·1ail i..nariers Trucking ?E.scellaneous C".lribou Service Charge INTERNATIONAL LEASED AIRCRAFT DOMESTIC s $ TOTAL s 4,119,144,03 1,567,554.86 1,734,329 .. 76 28,318,27 1,734,329.76 28,318,27 s,6a6,69B.s9 82,410.85 50,507.61 132,918,46 1,003,378.45 59,573,63 l,DOJ,378.45 59,573.63 635,845.93 635,845.93 4,201,554.88 5,079,508.51 9,281,063.39 P:=cifit oil Aire.raft Operation E/D Receivable Con-.
::ission HanCling c: ···�c': & Trucking £ngi:-:.

:iering f·1�scellaneous Charges Service Charge ����it on Disposal Irr:::::est on Investment of Assete ,,281 ,063,39 ====:======== 1,433,807.44 960,794.99 535,185.00 282,418.18 116,834.,00 38.551,32 1,933,783.56 1,040,57 45,694,38 33,414,325,95 --.. ,,,====-=-::, • 21:.

GUYANA t AWAYS CCJlP[J!

:ATION FOR TH£ YEAR l:N� D ; ·.51 .ffil[!!


.ANJJ LOSS ACCOUNT IJECEMB;R, 1975 1974 UNALLOCATED COSTS C-46 LEASED TQTAL AIRCRAFT 1974 REVENU£ AIRCRAFT 262,732.98 Obsoleec:enea Deprec:ietion 96,344.28 479,714.27 Surplue Before Taxation Cerried Down 620,662,81 107,CBB,72 121,n1.s3 624,651.99 638,791.53 Down Balance Brought 1,352,423.52 838,791.53 ............. Provieion for Taxation lncoma &.
Corporetion Taxes 73,790.46 Property Tax -Current •-Prior 405,923.81 Belance Cerried Down 479,714.27 -····- 1,682,317,80 169,448.01 Lose Brought Forwl!lrd Surplus Carried Forwerd s1,a51.

76s.e1 ------· 1,352,423,52 BJB,791.53 -·······"- "'=-··-"'""' 479,714.27 Surplus Before Taxation Brought Down :mo,ooo.oa 76,130,00 .

;Ll,3S2,2.l 369,479.9 1 235,172.08 624,651.99 479, Tl4.27 ____ .. = .. ==--= .. .

405,923,Bl Belance Brought Oown .


Prior Year Surplue Brought Forward Government reinbursement of prior yeers 1,445, 842,00 accumul.iited Deficit 404,620.09 - ---·· -.
........ 1404,620.09 !118511 765.Bl = ..... 1,Js2,42J.s2 ··-·=*'*'="'*'" 624,651.99 624,651,99 -==""'"'=*-••• 235,172,08 169,448.0l 1404,620,09 ..... = ........... GUYANA AIRWAYS CORPCllATION SUMMARY OF DEPARTMENTAL COSTS FOR THE YEAR ENDED = 1 1 Qperetiona ... Leas Depreciation of Buildings & Contents - Enaioeerina Leea Deprecietion of Buildinge & Contents 676,904.74 824,73 664,333.94 27,677,62 67B,OBO.Ol 636,656.32 Avienica - and Elactrical Lesa Depreciation of Buildinge & Contente §roygd Services ... Lesa Depreciation of Buildihgs & Contents Conunarcial - Lesa Depreciati on of Buildings & Contents finonce and Ac;ounts - Lese Depreciati on of Buildings & Contents Ma nagement - Less Depreciation of Buildings & Contents 193,112.35 28,143,76 164,966.59 1,142,107.37 27,156,90 1,114,950.47 350,806.05 61043112 342,762.93 264,564.97 7,245,12 2TI,JJ9.BS 369,477.49 7,997,47 381,480,02 TOTAL $3,596,236.19 •••m•••••==•