Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698068383669.pdf (Guyana)
\ GUY.

A AIRWAYS C RPORA TIO·N • COMPOSITE AN.N1UAL REPORT 1963 -1966 GUYANA AIRWAYS CORPORATION 1st September (Established of 1963 under tihe Public Corporations' .No.

23 of 1962).

, 1963 by Order in Council Ordinance No.

71 Re,gistered Office - 32 Main Street, Georgetown.

Board Members.

1963 1964 1965 1966 S. A. Sto.rey, Chairman & Official Member R.Mandall, Member ,-1 A.Holder, Member H.Michelmore, Member Roopnarine, Member Roopnarine, Chairman R.Mandall, N.Franker, Official Member Dep.
Chairman (P.S.

Min.

of Qomms,.)

A.Holder, H.Michelmor Member e J.M.

Hart.

Member J.Hart A.Hotder, Chairman A.Holder, Chairman J.Viera, Deputy Chairman J.Viera, Deputy Chairman P.S., M.in.

of Comms., Official Member A.Salim C. H. Da Silva N.Bury P.S., Min.

of Trade Member Official A.Salim, Membe·r C.H.

Da Silva N.Bury J.Samaroo, Member J.Samaroo W.Carrington W.Carrington C.Ale:ir..ander, Member C.Alexander I.W.

Boodhoo, Secretary (ag.)


S. Abbas General Manager H. R. Persaud, Secretary N.Khan D.Br.-ooks H. R. 1-"'ersaud, Secretary .

N.Khau D.Brooks E. P. Christiani (ag.)

- From 1.2.66 - 10.7.67 H.Wendt (Ag) M.0.

H. Khan R.L.

Abraims (Joined July 1965) R.L.

Abrams � COMPOSITE ANNUAL REPORT 1963 (SepteH1ber - December) to 1966 The Board has pleasure 1963 (September Profit and Loss Accounts to De,cember for these periods.
in submitting only) to 1966 together tJhis Composite with Audited Annual Report for the years B a 1 a n c e Sheets and FINANCE Revenue (Aircraft only) Expenditure & Un­ (Allocated allocated costs) Operating Surplus/Deficit_ 1963 (Sept/Dec) $ 397,365 $ 352,397 $ 44,968 1964 1965 19G6 1,273,640 1,144,229 129,411 1,407,195 1,167,676 239,519 1,650,330 1,410,066.12 240,264 L ---------------------------·------- Total Revenue Total Depredation Expenditure Profit/Loss $ $ & Obsolies'cence $ (Sept/Dec) 1963 1964 1965 1966 474,341 1,465,266 1,636,581 2,042,467 490,501 70·:-:- 1,642,8 1,687,469 2,053,221 48,023 146,494 138,091 157,366 $ 64,183 324,098 188,979 168,120 -):-Includes· $46,300 loss· on realization of fixed assets.
1963 The fi.rst 4 months of the life of the Corporation 'did not revieal any significant change over the comparabl well as an increase, in expe,nditure e period for 1962 .. 'Dhere was an improvement over the eo(mparable period for the previous in the DC-3 revenue1 as year.

1964 1964, was an unsatisfactory showed no improvemen expenditure revenue earnings shown but overhead spect of th� loss of a Grumman, resulted.

year financially.

t over 1963.


An operating Though there was an increase in flying, Surplus had to be written of $129,411 was off in re­ $46,300 increas,ed appreciably, .

commission paya.ble was greater and a loss of $324,098 2 PANNELL FITZPATRICK GRAHAM & CREWDSON AND GRPJ!AM & CO. FITZPATRICK, CHARTERED ACCOUNTANTS P.O.

Box 37 The Demerara Life Duildings, Georgetown, Guyana.

17th November, 1966.


GUYANA AIRWAYS FOR THE PERIOD FROM 1ST SEPTEMBER REPORT OF THE AUDITORS ON THE ACCOUNTS OF THE CORPORATION , 1963 TO 31ST DECEMBER,1963.

We have examined ' the Accounts of the Guyana Airways Corporation, .

which are in agreement with the books of the Corporation, and report that we have obtained all the information and explanations we have required.
We further report that, in our opinion, the annexed Balance Sheet dated 31st December, period ended on that date, are properly 1963 and the Profit and Loss Account for the drawn up so as to give respectively affairs at the 31st December, a true and correct view of the state of the Corporation's 1963 and of the loss for the period then ended, in accordance with generally accepted accounting principles. )

,..., .. -.
,..., .. -.

··r.,...·R�··, ,,,.ti-, rt� t:.i U.1,L-.tl1..;:._;1_., /I ,,.,.-.,Tl'!\TT .-,·-r,,.. 01,1 .._ ill'-• 1,.1) AUDITORS ) ) c) GUYANA AIRWAYS CORPORATION BALANCE SHEET AS AT JlST .. DECEMBER, 1 963.
Capital 7% Perpetual (Secured charge on all the Assets of the Corporation) Debenture by a first $930,000 Profit & Loss Account Loss for period Less:-Government Subsidy $ 64,183 64,183 $930,000 Employment of Capital Fixed Assets less amounts written off (Note 1) $664,239 __________ Current Assets (Note 2) Aircraft Spare Parts Supplies, Stores and Loose Tools (Bote 3) Debtors (Note 4) Payment Arrear in advance and Receipt in $221,540 369,894 77,076 Cash and Bank Balances 140,510 $809,020 Less Current Liabilities & Provision (Note 2) and Accruals Creditors British Provision Aircraft West Indi;n Airways for Replacement Engines of $123,848 369,893 49,518 543,259 The attached notes 1 to 5 inclusive from a part of these accounts 265,761 ____________ $930,000 ____________ GUYANA AIRWAYS CORPORATION & Depreciation Opening Valuation Additions Obsolescence 1st Sept. 1 63 for 4 Mths.
for 4 Months 31st Dec. •63 Balance Note 1 Fixed Assets Land & Buildings Freehold G:' Head Office <;) 59,000 G': y Main Street Land Leasehold & Radio Building $ 2,107 $ 56,893 32,000 1,485 1,213 32,272 Workshop Terminal -Ruimveldt Shed -Annai 1,000 $ 92,000 rt-.

�) rt.
1,485 36 964 3,356 .$ 90,129 �i' Aircraft Dakotas Grummans Cessna d� t325,ooo $ 2,779 lj> 16,459 $311,320 180,000 850 9,000 171,850 3,250 61z750 65zOOO $570,000 $ 3,629 $ 28,709 $544,920 Plant & Equipment Engineering $ 2,343 Radio Motor Transport 4,433 River Transport 1,090 Office rt', �;) $ 1,825 14,929 457 2,894 12,492 1,872 2,561 $ 128 ·962 12,098 764 1 z512 $ 34,893 �� ... , 1,221 $ 6,924 11,350 ·d:> y 29,190 Balance Sheet $696,893 $ 6,335 $ 38,989 $664,239 The Corporation expects to write-off vithin 7 years, apporximately 75% of its total Fixed Assets excluding Freehold Land.
P�OFIT AND LOSS ACCOUNT GUYAl"\JA AIRWAYS CORPORATION FOR THE PERIOD 1963 1963 TO 31ST DECEl"'-IBER, 1ST SEPTEMBER, Operating Profit from Aircraft (Note 5) $44,968 Add: Other Income Receivable Commission Service Charges Miscellaneous Trucking Less: Overhead Expenses Ae,2ncies Interior Finance Management Board Expenses Services and Accounts Expenses Commission Interest Payable on Debenture $47,556 12,380 15,920 1,120 76,976 $121,944 $30,986 40,744 23,207 12,057 7,924 $114,918 1,486 21,700 138., 104 Loss for period before charging Depreciation and Obsolescence $16,160 Add: Depreciation --- Loose Tools and Spares Loss for period and Obsolescence (Note 1) $38,989 9,034 48,023 $ 64,183 GUYANA AIRWAYS CORPORATION Note 2 The Current Assets and Current Liabilities were revalued by the Board at 1st September, 1963.
Note 3 Stocks do.

 Aircraft Supplies and Spare Parts - Atkinson $161,997 149,290 66,375 $377,662 Radio Supplies and Spare Parts - Ramp - Ramp do.
Less: Amount Written off Brought Forward Opening Adjustment Current Write-off $172,742 16,189 8,260 Other Stocks & Loose Tools Less: Current Write-off Engines on Hand Balance Sheet :197,191 $ 25,642 774 $180,471 24,868 16,201 221,540 Stocks are stated by the Corporation at purchase cost after providing for slow-moving, obsolete, and unusable stocks.

GUYANA AIRWAYS CORPORATION Note 4 Debtors General Trade Debtors }3.W.I.A./B.O.A.C.
Agency Debtors Government Departments Staff Staff Pension and Insurance Others Provision for Doubtful Debts Balance Sheet Note 5 Operating Profit from Aircraft $136,752 78,527 142,490 27,991 4,047 87 $389,894 20,000 $369,894 Dakota Grumman Cessna Total Passenger Excess Baggage Freight Mail Charters Landing Fees MiscellaneoUs Less Allocated Cost Fuel & Oil Engine Consumption Spares Consumption Aircraft Insurance Landing Fees Licences Miscellaneous 1,036 179,043 4,008 4,395 $ 90,810 $ 45,458 1,096 12,203 4,655 43,365 31 1,436 100 $ $136,266 2,132 11,246 8,663 57,456 31 1,569 9,696 33 $279,392 $108„2144 $ 9,729 $397,365 Dakots Grumman Cessna Total $ 45,198 15,488 15,088 4,693 2,145 764 83,376 13,410 114,565 11,353 2,144 217 4 41,693 $ 806 1,054 395 3,024 9 8 59,414 31,107 26,836 9,861 2,154 989 4 5,296 $130.065 Less Unallocated Cost Flying Staff Pay and Expenses Engineering and Radio Staff Pay & Expenses Profit & Loss Account $267,000 $ 92,326 129,706 $222,032 $ 44,968 7>,._�.
<�LL lTi.

'S-PATRICK arid J?rrZP..i:..TI.,��;K� G!ll1.JAH & CO. m1AHAM & cRE·msoN ?

•... • ,;, ,...{ 57 T1 "e DE..,nerara 1ife B·_-:ilJ.

ings, Georgetov:n, Gu.ya�a.

22nd Apri 1, 1 ')67.

REPOR'.i' �'F ---�- ----··---· THE AUDITORS ON THE A ·�COUNr2 Of THE GUYAEA AJ�WAYS C ORPOEAT lilOR ·-�BE ITu\R .� .. am, }Dj1 S�i _ �1i;C"'.J�MBER 1 964 .J.Ql!
V!e have r::xamined -the Accouat:.i of t_�e Guyana Airweyz which are in agreement with th'3 "books of the Corp,)ration, have obtained all the informatin�i a�1 '3'.

::plan�tions Corp0ration, and report that 'NP we have required.

r-'r_;Ort that;, in our opim.on, the annexed.

We further.'

·� Bals.nc.

:e Sheet.


dated 31st Decembe:t· 9 and the Profit a.--"l fJr the ye:-\ endet� on that da.te, are properly drawn -�::p fsive :cespeJtively a :.o·.po: ation'-s affairs 9.t the i31st Decem�r, 1964, and of the bss for the year then ended, in e.eco�ce with generally accept��d account.Lng tlJ.e :md correct view of ·che state of the �_,rinci.l!..
:.es ap'Jlied on a consist�nt 1:asis .. SCJ as to Loss Account Pan.._ell Fitzpatrick Graham & Crewdson) Chartered Accountants ) � AUDITORS GUYANA AIRWAYS CORPORATIM LALANCE MEET 1!_S AT 31ST D-JCEMBEE 1964 1141111 CAPITAL 7i Perpetual Debenture (Secured the Assk„ts of the Corporation).
a first charge on all 930,000 PROFIT AND LOSS ACCOUNT 64,"e3 64,13j Loss for Year Less:- Government Subsidy 345017 $930,000 21,719 $951,719 •••••••••• $556,974 930,000 •••••••••••••••••• 40...•••••••••• 3221,)40 369,894 77,076 140,510 809,020 -2,111ThOLIENT OF CAPITAL FE2D ASSETS less amounts written off (Note 1.)
cual72 ASSETS Lircraft Supplies, Spare Parts, Stores and Loose Tools (Note 2) $221,515 376,150 Detors (Note 3) Payments in Advance and Receipt in Armar Cash and Bank Balances 10,286 371,845 $979,796 LESS CULAENT LIABILITILEgy.21 123,348 369,893 Creditors and Accruals British West Ind4.an Airways Provision for Replacement of 49,518 'aircraft Engines $270,265 263,651 51,135 $543,259 $265,761 930, 000 585,051 394,745 $951,719 The attached rot's 1 to 4 inclusive form a part Qf these accounts, S qu iLIWAvS r0.9AT ION :ROFIT LOSS AM0'71F1 'LT) 9.4-12 EAR -2,0VITT11 1964 31/12/Q $ 4419(8 Operating Profit from Aircraft (Note 4) Cth - come Add $129,411 ConilAssion Receivable Service Charges ITisoellai-leous Trucking Tess r - Overhead Lxpel.ses 4148262 39,262 3,082 1,020 =•••••••••••••• •• .ksencies Interior Services finance and Accounts Administrative Expenses ]:'anagement and Board E:Tenses $ 93,161 134,694 70,094 27,980 :1,096 Commission Payable Latsreat on Debenture 8367,025 17,956 623-12-CL 47,556 12,380 15 9 920 ,12c:.
$121,944 30.986 40,744 23,207 12,057 7.2.92i $11/i,918 1,486 21J/00 $138,104 16,160 7,,perating Loss Add:- Expei-iditure relative to -.1-,rev.--.
),As year 38,989 9,034 Depreciation and 0beolescen3e (Note 1) Loose Tools and Spares Loss on Realisation of Fixed Asset3 64,183 Loss for Year _1211121 $321,o.37 450,081 $129,044 2,260 115,104 27,190 1:L222 324,08 • uoT/ciTaosoff • 1 1 K + c 0 / : t D c n + c p j r P I C a c o C 0 ,1 7 - \ • •- ) N l G \ ) 0 0 0 N 0 0 0 .

.

.

‘ 0 ) 1 1 0 ) V • O i t NOILTIPTOcTITOD (7.IITAVErr D C f A .

.

.
.

.

- l e t i i i • I a .

.

.

• ' a a N 0 0 K .

.

.

.

• • 5 r 0 s ' " k r I ' + t I - .

I • / 5 t D C ) N \ T ( 6 1 i 1 0 .

\ a t .

` 0 0 ) .

N • • .

& - - 0 ' .

.

J \ \ 0 1 .

a N • . )

.

0 4 / 1 O C 0 N 0 ) .

N 1 0 Vii • - • V D C % r - 7 r , % 4 V 0 0 4 1 \ 1 0 D \ O \ C 1 7 .

.

% P - 0 D N \ ) D V 0 0 • 0 ) V • I V 0 0 D C P - N D C ) N N ) N 0 .

\ \ C N o m e m C \ I V A .

.

.

s : Z I - ) .

N \ T C ) .

C 0 I V .

e g i O C ) N 0 .


\ O C 0 D C 1 0 0 0 \ 0 0 ; 2 ( I V ., P - 4 1 .

s .

.

.

\ -.

1 .

Z : ) r C 3 .

.

.

.

- 3 - - .

.

0 6 O C ) t ( 3 .

- - - s : .

- - 4, - 1 V 1 .

/ .

\ .

i o w \ 0 4 ) .

.

• P - 4 9 4 / 1 .

I - . )

- - .

- _ ) ., .

, \ 6 .

% P I 0 8 0 D N \ 0 D N 0 s - ) N 0 8 ) N 0 0 • .

 0 - \ Q ) N 2 6 - ) ; ( ) L w .

N 0 0 m k I V V .0 0 a 4 N \ " J \ & W - O D C C 5 C O N N 4 - x - • 4 ) a- .

p A \ .0 .

, ‘ .

, - - c l v ?


6 I N o .

.

.

.

0 0 D C 4 ) - \ O C 0 D \ ) .

N D N • • ) .

N • D I \ 0 O N \ .

l ) .

.

.

.

i i ) N \ T C .

.

.

- 1 .

. )

r C ) N 0 - \ I i .

1 .

- N D \ ) N D V A C N O I T L N A .

• N O 0 J V N r c ) 0 0 D L \ 0 J V 0 O 0 ) z - 4 7 .

\ • ) .

N 0 0 • s f - • s - I l w • t n c • 0 0 0 V I 1 - Q V V V 6 .

‘ - 0 1 1 .

.

.

‘ \ 0 4 ) .

.

l 1 . )

.

\ D \ O ) .

N 4 ( 1 0 O Y C 6 I \ C 0 0 0 0 0 0 \ G N O % 1, .

• ) \ r 6 . '

C 1 1 0 0 n .


.

‘ 0 0 0 0 0 .

I V . '

1 .

( .

„ • , .

.

, - - I V .

r •- D - • 6 .

\ 0 N • • • D O " .

• 4 v 1 0 4 ) .

.

‘ - w N 4 V 0 0 C 1 V 0 N o C T C I t 1 1 1 0 0 D C 01 0 • N .
‘ ) N s.zteA 9 JOAO AL ioce 2.
SI'CC_ M61,997 290 r7 75 -577,662 7,1J1 K,471 #172,72 16,139 • 25,642 CORPORLT ION Ilircraft Supplic:said',..L.)L.re Parts - Atkinson .1craft Suprlies and Snare arts .

- Rarap aadio Supplies and :,;pare T'arts - qam !


'11).-ot writ ter off Brount7T'orward Opening -,.djustment Current Wril-off Ott J_.3S'.. Current 1-Ite-of4" Lcose Pc 1r, Stooks 16,201 Fngineo i (11221,5V: t3.1an.c.,-; Sht 319o,o85 131,621 50,770 S372,476 213 9 711 153,765 169 581 -Ty -.4••••••••••....m.•••••=, 3221,515 Alimmipimmumme $188,931 LILLE 0 310,579 9 'toks LL.
B,:.& by t (-;orpcv.t1,.li purclase cost ,,,fter Pr- vtdir3 s1cY.--movilw,..f5"osclete ctooks.

unusaVis, • Nc-te 2• Debtors l, •-·· C. ..:'..gency De b-to:�s erA.l Tract0.

.Je btors c....-,.

B .1.

"\ I .11.

./T�.


Go·r..;...:)rnmu;, t Depart1,e nt Stu.ff Staff ·Ru:wiCJ� and Insurance Otb.ere :;, � 36, ·r 52 78,527 142, :l90 27' 991 4,047 81 'n89,89� 20,000 -Prc,vision for 1)()1..1.btf11 l De�� ::i369,e94 Balanc� Sheet OPI::SATil{G Pf .. G?rI _'ROM AIRCH1ff'J 1 1' 225,83'2 'tJi 50,456 96, ?

:-rn 20,253 3,371 $ 396 150 2020'J �i\ <1;, 376,150 $136,268 2,132 191,246 8,6f.
"3 Pa..0'Seng r Wxce s s J;a,gr;age Freight' I\IT8il Charters I.anding Fees Miscellaneous "57,4� 31 1 z ;,C) ��397 � 365 ;::.

59.

414 leae :Uloda.te-.

: Cost 31,107 26,836 9,86� 2,·154 989 J.;i,,_-:,: anrl Oil Engine ;c,nsumptio n S:,a1es Consu.r .pt ion Aircraft Insurance !Lnding .

:.1ees Licences TvT:Lscell9.v.

,)U� 4 ;'.�130, 365 Dako7'!1.

\ }rur.


:r:r ... n ---------- �:;24s,015 t� 153, � 2 'l,184 5,654 4 517 s 002 40t404 11,866 13s572 83,245 164,G03 :)8 '� z 97'J -:� \.., ·j 2 _., 380) c�5 < i� r ,.

�- .. .

Cessne, Total $ 2,697 $ 403, e_,r:; 3 �34 111 ;;3,792 12(, --1,140 ( � l,11 285403 7, E34'1 �/id.
020 25,569 �71 J1�.J :-�24 ·, 11 C �� 1 � 273, 64n '..�13::; 're i 44,465 91.,123 23,1�8 7�,479 54,922 14,127 6,455 7, '79 2,322 680 =i�2� 84 �� 322,522 �i 12Si, 782 8 .. $ 3,295 3, 1Ct 686 $ 181,600 11,7, 393 127,087 26,157 7,287 3,132 27436 5,575 - 130 """ $ 1 !

'188 $267,000 $ 20s� 511.s �t 92,326 129,706 less�-Unallocated Flying Staff iay and Exper.ses Engi neeril'tg Cost and Radio Staff Pay & Exp0nses ;, 222 � 032.
Profit anu loss Accourt 1�263,663 415247.A $ 679,137 $ 129,411 P AHNELL F:i:TZP ATRI CK GRiuimi & C1.

{EVm._.iON and FITZPATfrICK, GRAI:£AM & CO.

ChaJ.

"tered Accoun ,ants P.O, Box 37, The Demerara Life Ti,._' ildings, Georget0vrn, Guyana.

28th December 7 1�67.


i:LEPORT OF' THE AUDITOHS TO 'I.111E r�'IEF>:.lL,J OF THE GUY .lliA AIRWAY:� CORPOR.l' .. TIO!>I FCR THE YEJ.Jl ENDED 31 st l:ECElillJER, 1 9G S0 We hav-2 exanj_ned the Accounts of the Guyana Airw2.ys vlith the books of the Corporation, and Corporation all the information and explanations which an:.
in acreement report that we t.:we obtained we have req uired, Vfo further report that, in our opinion, the a.rmexed dated 31st December, 19659 and the Profit and Loss drawn up so Dahmce C,heet Account for the yea:r ended on that date, are properly as to give respectively the Corporaticr 's affairs at the 31st D,?ceober for the :· e .... r accowJ.ting then 0:·1ded?

in accord2.r..cG ·d th ccnnrs.lly a true and correct vier.
of the state of buc;is,, applied on a consistent principles accepted 9 1965, and of the loss l "i1JELL E'1TZPNfiLICK pf ( m.JUIAd & CRE'11'1SON ) CJ.1.artered J,ccountai:tr:1 ) AUDITORS GUYANA AIRWAYd COR?ORNrION I>ii.LANCE ·�BEET AT ·31st DECEHBER, 19G5 ..;_ :i.-'I'.rl�L f �perpctuZJ;l ·75 on all the Debeutufo (::i€curod !.ssets of the Corporation) by.L.·n fir t cl]arge PROF'�]) LOS.

;; __ 2\C COUNT Balance brow;ht Less:- Loss fo::.. ycc:,r forwari 3451817 Less:• Govcn1mcr:i.t Subsicl.y �s?

21 a 719.
21 a 719.

�951, 719 '·PITLL EMPLOYuE.lJT C.1?

C. 188,979 $167,260 _ 125,000 (42,260) �>�87, 740 ��556 974 PIXED .Ao8ETS ( 1T ot0 1 ) 8680,528 CURh.bNT .. _:;SET� �)2�1, 515 37r:,15e 10.,286 Stores Fmd Loose Tools Stocks, Debtors (Note 2) Paynents in Advence Cash and Bar.k Balances f, 83,213 41op155 9,411 371 I '345 $979,796 280.323 ��783-, 1C2 LES.., GUfu EIJT LIJ\DILITIE,_, Nm PitOVL..,IOH �::270,265 263,651 51 '132 f5s5,051 n.j_ f.ccruals C:rcditors ': .. .L-ri tish \.
"est Piovision Airc�aft Indian I�ir:ways for Replaccocnt EnGincs of �� 3 'l O 9 21 ;, 216,<25 T:1e attached a part of thef:,c accounts.

notes 1 to 3 incl,�i..;ive form r;75 2 890 ..

.

:.

:: _· 207,212 illII..ANA AIRWAYS C0RP0Rl:.TI0!Z PROFIT AN]) LOSS i1CCOU1fr FOR THE YELR EfDED -310T D:Ip,CE1\'.IB�1 .

\965, �·129 ,411 Or)erating Profit fron Aircraft (Note 3) Adg.

� ... Other Income - 1409 ?


(.2 39,262 1,020 3,082 Connisi:;;ion Service Charges Trucki �; 1':IiscellaJ1eous $239� 519 ::�173,696 42,347 9,439 3,154 228,�36 �M68, 155 �:- Overhe�d Expenses - 93 9 161 13£�, 694 70,094 27,980 41,096 ...:iervices Agencie::�3 Interior Finance & :·,ccounts ve Exp.

:mses Administr:::d ond Board Expen3es 1:Tanagi�nent • 17,956 65,100 Comnis'ion Ir:terest Payable on Debenture �118,118 169,111 72,005 46, :·53 31 2982 �)437, 770 10,675 65,100 -,.
;450,0F:1 �!-,12 9,044 Locc Operating ·.,, 45,390 (46,300) Lessi- Profit/(Loss) �irectors on Realisation back fee written of i'ixed /sstes ," ,.., 750 1, 142 1 ,:./)2 ��.175, 344 �� 43,498 2,260 1199 304 ) ) 27, 190 ) relative �� ... ·Net F:xpenditUT9 ye�rs Depr8Cici �ess previ i"':JS years stock adjus�::i.er.t J\m.ou.

::..t written Less Previous arears adjustr::10nt B 3,866 _.... .. -W .

143i?·'.JO s,260 �ion for yea .. r off loose tools to previous :'G 7?
390 135,000 � 2091 Loss for tlle yea1· Note 1 -Fixed Assets GUY J\JlA AIRWJ\.Yo C0RP0FU·TI0N D E P R E C I A T I O N Cost at 1.1.65 Additions Cost at 21.12.0:2 AT 1.1.62 Depreciatic;i AT .J1.12.62 for :l:ear I .. ) \J..l Ne't Book Value 2!.12!62 Net Book ValuG 2 1 • 1 .

; .t.fu1 Land and buildings Freehold Leasehold do TerCTinnl dhed do Land & Buildings -Main Street -Ruimveldt -P.J111,1i -Kanarmtg $ 59,000 36,735 t:, .

:,) 1.e:o 1,010-- -- .


:: .. 97,745 r' Guard Room - Rar.1:;:J ,,; Work in Progress, �> 1,007 $ 59,000 36,735 1 ;000 1,010 �:.)

;: 9214 5,602 156 10 ,:;) 2,107 '+, 390 108 119 ( (' 6,321 S 52,G'/9 9, 9�1?

26,743 D 549786 :31,133 204 129 736 881 844 1,000 - S 97,745 B 1,007 B ),902 i> - t, �3 6,724 i) - ��' 16, 706 -S 81,039- ',, - ,;; .

'\ t!..f i'• 1,00'( :3 87, 7G3 ·.

Aircrc.ft Dakotas Grumraa:nS Cossnc.


?lant and Equipment Engineering Radio Motor Transport River Transport Furniture Airframes, Engines & Radio Sapres (A) I I t 79,; (�95 f;362,658 120,000 65,000 �·)54 7,658 .

;.

; 2,343 t 79,G)5 -- " I'• .
;> 2,505 {� 15,386 1,;037 10,053 9,276 1,090 -- 12,779 20,992 �> 57,864 ,,, 25,597 - - ��1081042 ($1 [j, 545 ��836.812 1,750 �> 70,486 249000 13,000 :,442,1353 120:iOOO 65,000 S627,353 �>107 ,�.G6 G 59,452 18,000 9,750 $ 07,202 .. � s129,93e �312,415 42, OC.10 76,000 22,750 42,250 :�292, 172 S,6,000 52,000 $194,688 �5432, 665 $440,172 /\ ',) 4,840 16,423 27,329 1,;090 33,771 29013 107408 9,380 512 6,512 8 83,461 3 289cJ25 S 185,295 f 24,780 <� ",) , .... <_) 462 4,665 5,570 213 5,304 ------ $ 16,�94 - $ 33,040 2t475 2,Y/3 Q 15,073 1,350 149950 12,379 11, c:i96 12,075 0 330 .�.'
970 8,673 578 14,480 725 365 s 451119 .. ; 309 )42 12 7, 4 7 5 820 �::.

f) 5'/, �� 29,039 �·.2�4.

061 CJ :z1 a o:zj �1!l211260 �-,:21,1i.222 �6f2Q.528 ·�;JS6s 214 Notes :- (A) Airframes, Engines & Radio Sii_res previously shown under Current Assets - 6tocks as follows:- Cost to B.G.

Airways (Gov.)

 Less:- Written - off by do Cost to Guyana L.rmitlys Corn.
1j0_,931 083,545 3:372,476 (D) Depreciation rates 1.1-2d will reduce:- (1) (2) (31 (4) Buildings by approximately 75J over 5 years.

Aircraft to current value.

Plant and Equips ent to exp:ted life period.

lArframes, Engines and Radio opares to Corporation's Valuation.

GUYANL AI1 AY COJAPORATIV Note 2 DE-iTOrto 3225,032 Gene-cal Trade Debtors 50,456 96,238 20,253 396,150 20,001.
37,150 B....I..L./B.O.A.0 ,Aency Debtors Governmit Tepartments Staff Staff Pension and Insuynce,71 Provision for Doubtful Debts Balance Sheet 237,059 56,278 94,1 35 37,921 4,762 (40,155 20,000 :410,1 55 wermemsma, GUYANA AIRWAYS CORPORA 'ION vote 3 - OPLE.ATING PROFIT FROM AIRCRAFT 403,836 79841 558,020 25,569 271,040 224 7,110 Passenger Excess Baggage Freight Nail Charters LandlLs Fees Miscellaneous Dakota Grumman Cessna Total 204,602 5,674 568,249 13,y55 195,020 7} 278 $1,067,865 `1 35,397 2,146 33,838 13,818 129,7')92 139 6,90r '321,760 $ 2,368 50 483 159 14,025 121 364 1 79 570 422,367 79870 602,620 27,932 338,445 339 7,622 $ 1,40-7,195 11C-6:ze Allocated Cost:- Fuel and Oil Engine Consumption, Spares Consumption Aircraft Insurance Landing Fees Licences (C of A) Miscell.
neous Less:- liocated Cost s- Flying Staff Pay and Expenses Engineering & Radio Staff Pay and Expenses C203,503 508,234 181,600 117,393 127,007 26,157 7,287 3,132 2,06 465,092 808,548 263,663 415,474 6 679,137 711,817 e 235,519 129,4.11 Profit and Loss _account Bankers: Royal Bank of Canada Accountants THOMAS, STOLL & CO. Tel: 62090 P.O.
Box:336 4417 Partners: J. Henry Thomas - Chartered Accountant W.G.

Stoll - Certified Accountant 5, America Street, Georgetown, Guyana 2nd October, 1967.

The General Manager, Guyana Airways Corporation, Main Street, Georgetown.

Dear Sir, We are enclosing a copy of our Audit Report along with four copies of the Final Accounts for 1966.

Yours sincerely, Thomas, Stoll & Co. THOMAS, STOLL & CO. Accountants 5 America Street, Guyana.

Georgetown, 2nd October, 1967.


Members of the Board, Guyana Airways Corporation, Main Street, Georgetown.

AUDIT REPORT TO THE � EJ:ffi�RS -----··----·--- OF THE BOARD OF TEE GUYANA Affi JAYS CORPORATION INTRODUCTORY The audit of the books of this Corporation Graham & Crewdson, Chartered was taken over Accountants, Fitzpatrick on the audit since the from Messrs. Pannell who carried the previous have studied the notes and comments made by them regarding audits which have just been completed.
As a general rule we are in agreement with their comments and have asked that these be put into effect.

of the Corporation.

inception We ACCOUNTING PRINCIPLES SYSTE!\1 PROC:.�DUR.r-r;::S We are satisfied that the accounting code which has been revised up to date caters for the number of accounts not firmly convinced and brought Corporation uses.
We are however, of the accounting and would like to suggest that the code be regularly of the accounting is responsible accounts is necessary gives a wrong picture for accurate staff9 or at least the sections staff are f ully conversant must be thoroughly as the allocation accounting.

studied by them.

Faulty coding of with the coding as set out, used by every member for which a staff member which the that all members of each item of expenditure THE CONTROL ACCOUNTS as set up are not working properly.
This is a very serious error and �e have discussed accounting period is convenient supervisor.

Unless the controls it at length with the agree every month or whatever the Trial Balance will always be difficult to agreeo the control Experience accounts has shown that many accounting are not used.

difficulties arise when ASSETS REGISTER The Assets Register as set up by the Corporation leaves much room of assets and Each weak as far as office equipment is concerned.
in the location There is no proper control for improvement.

this is particularly item should be given a reference locate a piece of equipment be kept for each typewriter depreciation, a clear entry should be shown and all relative includes �hom sold and date.

oost, location, the reason for sale or scrap, the authority can number so that in time an auditor v,i thout undue search; showing a serial number, date of purchase, etc.
If the machine is sold or scrapped for example a card should information entered.

for such, person to This MOTOR VEHICLES We are not satisfied about the control of the motor vehicles.

would like to suggestfahat a log book, in which is recorded servicing, oil and gasolene each vehicle used by the Corporation mileage, purpose of the run, date of used, name of driver responsible etc.
Unless We should carry these controls vehicles are instituted we feel that useful life of the can be reduced and also there will be room for irregularities.

STORAGE OF R�CORDS We definitely are not satisfied with the system of storing old records.
We were informed that with the repairs a room will be specially is more important Unless proper binders chronological might as well not be theree set apart for the storage are made and the records order, an Irtvoice may be so difficult however9 is that the system of reference stored in numerical to find that it What is very weak.

now in progress of records.

or THE SECURITY OF VALUABIBS of the iron safe is not of the best.
We strongly All tickets9 whether of the repairs and expansions The location recommend that upon completion strong room be set aside and in this room the safe should be encased in concrete.

the strong room and if possible Only the Accountant should have access to the strong room.

We also feel that the Insurance assigned vehicles1 buildings and special cabinets.
for with policies should be kept in the strong room in local or overseas, in special fireproof or other senior officer by the Corporation and the Secretary should be placed in to the staff together aircraft a special steel cabinets.

Policies BANICTNG SYSTEMS There is no clear broad policy as to how the bank accounts Cheques are drawn indiscriminate should operate.
or Royal, the two Banks with whom the Corporati would like to suggest that because of the heavy overseas Britain and the Commonwealth Barclays This makes for better control 1 these transactions be done through and local transactions of cheques.

transactions with should be done through the Royal Bank of Canada.

ly on either Barclays on does business.

We Thomas1 Stoll & Co. ) i s \ 0 0 0 0 0 0 .

0 .

• 1 .

— .

: • - o 0 0 1 - I + c D C ) 9 -1 1 .

H + c P . '

F .1 C- 1 i C ; t; D C D C D C D C + c .


H 1 1 r 0 1 Z t D C i t o e c D C - i c ' , - _ c , S ' t D C D C ) ' C O - P 0 0 0 - c c c D C 3 - - .

i o 5 c F O g sean.q.ueciaG + c , N \ ( .

.

a - D N 3 - - .

v a C 0 0 0 • ( 0 0 , r 4 0 ' .

3 — ) .

N ) s r C V V V V C 1 Y - \ 0 1 1 I d - t 1 - - - 1 1 _, 0 + c • - ' 0 t 0 F ) 4 - 1 1 + c o R 0 .

H 0 o i L .

2 - ' t P 0 ' - P -3 D C 1 0 D C .

H D C 0 " - 1 0 ' - - 1 .

H d N O 3 — 0 0 3 - - 1 5 .

.

\ • .

0 , 0 - • 1 J 1 . )

- \ 1 5 .


1 a P • O + c ) P -1 1 1 o t , .

P , - - 1 3 9 ' -, •- ; t 0 + c .

0 E ) - 1 0 O • • b O 0 - i c 0 D C 3 0 d t D C D C D C + c -P.TITTeri 00 sq.e soy q.uaaarto 0 w d : t • d t .

, .

p • .

s - I ) C > = 0 .

• • > : 0 • • 0 • • 0 0 .

H P t c - + 0 c D C • g 0 D C .

s - .

a - .

a - D S .

P - \ N O 0 - \ O C 4 ) - \ \ 0 N O 3 - 0 0 0 N O • • • • ) N 0 i I D C D C D C - 1 - c J .

- 1 t F 0 $ - 1 I C ' .


7 - 1 0 ' 1 : 1 0 - 1 - c • R C + c D C A - D O V I \ 1 J \ ) , ) .

.

.

\ 4 ) - \ 0 • ) C C D N I 1 .

- - V A1 Y .

• 0 .

\ .

P - N 0 D N I ) .

N V .

I _ _ .

1 .

- V I .

4 0 D N .

3 - - V V 0 3 - - - V I 0 O C 3 - - - 4 3 1 .

.

.

.

v • - - - I - - 4 ) .

- \ a - - .

t - - • 4 • .

.

.

1 Y \ 3 - - - .

c .

.

\ • 0 D O .

P - ) N .

s 0 • 0 " .

.

1 3 - \ 0 - \ • q..Tjala • p.n000y s 1 7 - \ D C orztrco6L` 1 7 - \ O C \ ill . )
l c O C D C ) w U D C l l i D C P 3 9 0 + c -1 F 0 o 0 3 -.

1 D C , p + c • H 0 E 0 + c + c D C , P D C + c n T D C D C 3 ± c :-1" 11 41 - D C t - C c I D C .

H O 0 0 .

H O 4 ( ) 1 ( 4 - } • P ) 1 ( 0 0 0 ) c P D C D C D C $ - 1 3 r , + c • ' - f P 0 • 0 0 3 ,c ) a n r ) 4 - E .

H -1 1 3 P 3 P )) (c O • • • O • • • 1 1 - \ 1 J - \ 0 2 \ D N I 0 0 ) H 0 i h 0 ) 1 ( " 0 0 1 - 1 p c 0 1 / +- c Z 0 0 N O \ 0 • ) l C D C 0 0 o c " 2 00 ) .

\ 1 oo C ) 4 - I • 2 - 1 " 0 1 .


1 c + c 8 g )) g - g 0 3 1 0 0 4 .

0 i r t + c + c - T - c D C 3 U 0 + c , P 0 • H .
H W O O 0 • ▪ d - } -3 1 + c Q R. , ?
_ 2 : : P 0 0 s F - ' . '

- - f 0 O C D C 0 i L n i 0 ' 4 - 1 .

H ' .

D C 0 F i t + c o ) 4 I- • ' 0 0 s - t - H o D C I 4 ( - 1 j J V eogcYzec' 3 - I I \ l i k • - P - \ O C % - .

.

.

• -0 • ) a + c .

_ p , - - , .

H .-3.

r j a r S F 0 q ' S F D C D C o C D C + c 0 D C 0 O C W 0 0 ) H 0 O C ) 4 F • ' - f 0 i t .

.

H 0 .

- - 1 S C F i, i i r .

H D C ' - - 1 l t c C + c D N ) .

\ 1 I L a _ a - ) N • 3 \ 1 0 • D N D .

\ N .

: 1 - 1 T \ • 1 1 - \ \ r C O \ 0 l , i 0 1 1 4 D C N \ 0 N - - 0 .
4 1 3 - \ 3 N D S V 1 • > - \ .

p .

.

.

n .

.

.

, \ % - - ' .

s i \ ) N N - 1 0 o c 1 , ) .

\ I - - ) N 1 J .

.

l • - • .

, .

sq.essy weaano ) u o c O 0 ., P 0 0 O C O C 1‘ ' 1 ; z t d t + c .

z - • t + c 0 S 1- D C O C O C 0 + c ' T P D C ) P O a C 1.

0OU'a.TUSUI 000V ssol V q-T,Tald ITI- V Balance Brought T'orward D C \ • .

‘ O N ) .

N 1 J .

L 0 - \ D C 0 0 , a f 0 ) u . '

- I ) a a P ) P O C D C .

.

.

+ c D C 8 P .

1 - } ' P W v i " D C 7 ' , P D C O C E < 0 + c + c l l i .
H - H n E 1 - I D C 0 ) C . )

4 1- s D C ' y z D C -5 I 0 o ' ' ' 0 I k ) c o P .

H 0 i t • + c H - 1 I 0 - P p i c D C ' .

J C ' - 1 < (D ' p- c .

+ H S F ) l C 3 11 ) C ( 1 - 1 0 0 ) c D C 0 n c i t 0 ) .

: „ • ) a a P K -1 1 1 0 s - 1 / - i j F ) H • o i r F D ( D C ) i - - ' - - 1 • ' P * H 11 a P o t - l c o l r C , a i p 0 + c D C , -1 - / i S O N I V 4 0 O C 0 D C 1 . )

.

.

k l x \ P - 4 ) \ A - - ,1 - - - ) - v 0 .

.

‘ • .

.

• • \ ) .

N N - \ .

- \ ) 1 . )

" ) .

.


‘ y r 3 - 1 7 .

.

.

.

\ • 0 D 4 N - N - W .

0 P - .

.

‘ D \ 1 • > - \ 0 O \ \ • 0 4 ) .

.

.

.

\ 4 - • 1 3 : C V I 3 - 0 \ • 4 . )

.

• I - - I N \ i .

P D N • O 0 ,1 ) ‘ • 4 - 1 3 \ • ) .

R ) .

N D I \ • 0 N O • 0 0 O C " s v 1 .

- - - 1 U O \ D C I 0 - .

- .

, ‘ 0 O C 4 - - ,1 ) .

.

!

+ c P ' P , a c D p 0 1 : 7 ) P .

H ° 0 t i g ) U 3 - 1 D C D C o t ' H. 0 0 ) , - - , , - - t F l c 0 0 .

0 ) g + c .

i h n C .


- ) ?

( > P 0 0 , .

.

.

.

, w o s 0 0 ' 3 C D C ' S C - i c ' — 4 P ' P. D C + c o t ) l C • H ) a , .

P 0 0 -,, - Fi 0 f .

.

f c ' " P D C + c + 1 c .

1 ) .

I O C D C 0 0 ) H o 0 o ) r c P + c 0 o c -' 0 o o 0 0 0 -, .

L , R ) f f .

.

- 4 .

H .

H a p 0 .

H a P + c " 0 P P 3 p + c + c 1 - ? )

4 - 1 " 5 3 .

1 1 F 0 0 0 0 1 1 0 .

H s F P 0 ' 1 1 5 11 0 0 0 - i c . '

.

+ 0 p a P 0 F - c .

H 1 0 P 1 0 ± C H .
0 of Engines of Spares Insurance .J:l'U8.i � Ul..l. Consumption Consumption Aircraft Landing Fees Licences Outside Miscellaneous Repairs -, I 4, c.'j f • c.b ')';J,r-14•)) 111.,300.22 23'1231.069 11 3 , 06 8.
11.

30»840.41 17,126.20 3,846030 8,647.01 1,560.00 1,212.83 341.84 341.

70 118.

16 ?.4_•-�� 0- 425,769.79 99,900.49 L,'.))Le4'.

:;1 2,433.09 1,714.77 5,953.59 241170 45a07 Excess Baggage 8,655.09 1,583.00 - c."I b?

)44• ·1 V ·1 �;fl , I )4 136' 965, 00 112,577 Freight 713,445.40 145,623.29 115,622 Mail 26,926.09 24, 61.0 Charters 13 8 , 96 3 •' 44 138, 5·19� 10,231.71 9,423 352.80 2,778.25 170.00 Landing Fees· Trucking 1,656.00 - 1., 599.

74 2,112 341 •.
74 2,112 341 •.

10 14 Mis ce llane ous 53020 ,2�5o80 239.90 1 A?.

-Z.h , :r-• ..,� 341 1,305,795095 538,373.99 6 11.00 30,319.1 ·16, 591:i 00 12,596.00 38000 75 25, 17·1.

318,749.9 12,703.71 455,859 50 .... "T '- '-'' - I /'<1 -- .l:C1.0i:lv LJ.f:SIJ.A.

• -.., 1 - .,,,, .

..

., - 10,238.09 743,775.56 29,225.00 302,654 .. 69 3,301.05 1,656.00 ·10., 188n 9_Q.

2 25,784.40 1,650,330.


27 1 Unallocated Expenditure Flying Staff Pay & Expenses Engineering Costs Radio Costs _e .. s per Schedule Departmental Costs Gross Profit on Aircraft Operations Services Department Interior }_gencies Depar·e:J.Gnt Finance & Accounts Mc1.nagement Management -Administrative -Board of Departmental Costs �§_per Schedule Salvage of VP-GAD Interest Loss of Grumman Aircraft-VP-G.AD (Net) Other Charges on Capital �oss Brought down Pro�tsion Provision for Depreciation for Obsolesce nce .

.
.

I.Dss brought forward Loss 1966 brought down 283,169.71 512,454.00 76,068.4� 871,692.13 711,817 240,264.15 239,520 $1,650,330 ----- .271,407,196 1,650?330��7 1 197,294.58 149,284.41 89,265.59 so,056.15 35,613.2 4 Receivable (BWIAg BOAC� & Others )242, ·I 68.

63 240,264.15 rr Brought Down GROSS.PROF Commissions Service Revenue Trucking Miscellaneous Charges from chartered.

aircraft 104,670�35 10,580.64 14,973.10 _1.t.Q§3-J.5.. 551,513.97 .

437,77t 1,123,65 65,100.00 .·· 25,417.37 14,933 �t643, 154.
99 517,804 65,100 Expenditure Relative Directors' Fees (Official Loss for the year befo�ovidii:ig for Depreciation Member) written to previous years back and Obsolescence 10,754.10 47,756 Loss after providing for depreciation & obsolescence 379,481.87 1·1,454.87 ·1 9 200.

00 _ _:1_Q_,?

7 54 l> 1 O §A_h154.


99 168,120.66 30,401.1.6 126,965.40 1572366�56 138,09t1 I $168,120.66 185,847 ... APPROPRIAT IOU ACCOUNT 42,25s.11 16�,120.66 �210,)79.37 Subventio n by Government of Guyana Balance carried down $168,120.66 168,000.00 7 42,379.3 .37 ��210,379 " N W W O N 1 - W M N • • 0 - \ 1 Q 1 Y - \ " W • N 111 • s • C 4• Q 0 0 P - D C M O N N D \ O O P - 0 0 0 o 0 • • • * • I 4 J - W \ M 0 " \ 1 0 0 \ 0 1 - - 4 \ M — O O 1 0 0 \ 0 " 0 1 - - 0 1 0 0 1 3 .

.

‘ N M 0 ) .

N 4 - .


1 - 1 0 M W N O W 0 ‘ b V • • • 0 1 O I J k D \ W 1 0 " W O C 3 N O 0 N O \ " O 0 w 0 a c c n m 3 - 1 .

0 0 0 s - 1 P-; $ - 1 .

l F 0 0 P Z 2 / E 0 0 0 0 4 - ) i c 0 .

r i- H ' - - N D C M P ' - - i- O C o g 0 0 ) I ( 0 • ' F 0 0 ' ' ' ' t F 0 11 + c 0 ) .

P l E g 1 - - - 1 0 d t .

0 W P - : .

P n - ° R .

- 2 .

c -,.

- 1 11 p 4 C 1 3 4 - 1 .

f c 0 - i c ' a 11 n E D C m .

r Y , 5 ,d s .
r Y , 5 ,d s .

F m 0 0 W O , a f - f c- t F 4 + F c 1 0 1 1 - 1 O 0 d P D ( ) l i O D ( j x ' t 0 W ' - - - 1 D C 0 - f c .

.

- - , 1 - 1 " i t 0 F e F c i t t $ t i - - - 1 m 0 , - i c t - o " 1 o ( 1 - t ) i-f • ' - 1 P 0 : S - t ' 0 7 1 1 .'

0 0 .

0 ' Y ° C • 0 m s M .

F .

H i P - .

.

.

_ _ .

.

 • ' 0 4 : ) 1 [ 1 1 4) • ' - 1 l- c - f - c e C ) i i o I P - 1 O - P ' 0 T C 0 1.
(r O ' - - I 1 1- D ( O C o a z o c 0 w N 0 - i 0 o " 1 J \ — W ) - : J-1 \ • 1 • • • 0 0 0 0 0 0 1 0 5 0 C 0 o . '

0 .

.

• • N 4 1 O 0 N W W 1 J .

.

% .

.1 " ) \ f O \ D O A \ 0 \ W W .

.

.

‘ " .

0 • • v 0 s v v v v I J W O P ) N 1 O .J J .

.

\ \ 7 C " D S \ 4 1 .

1 1 3 \ 0 1 U O C D \ 0 1 Q 0 N 0 0 0 3 0 D M 0 0 0 0 \ 1 .3 .

‘ 0 0 • • • 0 • • • 3 LzboCc'o9ci.

a , ‘ a W D C 1 0 1 - - - - A - 0 .

\ v ) C \ .

s i l u o • 3 \ 1 1 0 0 ' N o r " N 0 1 J D 4 0 \ \ • M A 0 , • • 0 4 .)

.
.

‘ 0 , k 4 1 ‘ \ .

C \ \ 0 ) N 1 7 .

D C 1 0 \ 0 D C " 4 .

- 4 .

- 1 U o c ) \ 1 .

= = 1 - i X \ 0 O C 3 0 O C • P • - • 0 • P P l U 0 1 J \ I T \ - O J - C J D - 0 C 0 0 I - - 0 .

\ I L \ 1 0 0 • \ 0 - 0 s — A N \- o a c r • L - O .

s .

p o Loss after providing for depreciation & obsolescence ) - C ) C P W D C • 0 - + c .
t r f 0 O O i r C • 0 o D C u P o 61 0 + c 0 13 - 1 D C 0 • I S 3 0 O C D O D N 0 0 0 W 0 - \ 0 W * • O \ • 1965 There was an improvement in .aircraf t revenue earnings of some 11% over 1964 or about yet direct costs (Allocated) $134,000, of $239,'519 was shown.
Overhead 20% so that there was an overall improvement curred.

were a little costs increased lower than 1964.

An -Operating surplus rose by only slightly, over 1964 though a loss of $188,979 was in­ but other revenue 1966 In 1966 the upward trend in aircraft or approximately $1,650,330 .added to the, fleet.

Operating though overhead of another Grumman, Agencies ended with a loss of $168,120, expenditur surplus e increased $243,000 revenue a slight revenue an amount of more than in 1965 being shown.
A fourth DC 3 was the same as in 1965 and was approximately continued, earnings and an amount of $25,417 increased improvement by some $151,000 over 1965. was written off for the loss over 1965.

The year OPERATIONS FLEET 1963 1964 1965 196,6 1967 DC 35 3 3 4 4 4 Grumman Cessna 310G .
'fwin Otte,r 3 3 2 2 1 1 1 1 1 1 1 1964 -------- ------- ------ 1963 1965 1966 MHes Flown Hours " Passengers Passengers 203,500 637,395 687,786 1,550 5,454 5,691 9,916 23,894 26,520 carried Miles F'lown .. 769,620 2,172,551 2,305,894 .

· / Passenger (a) Passenger load factor .

.

24% Seat miles availa,ble "I 3,152,3'52 10,223,621 8,915,782 Baggage .. I55,316 178,337 198,183 (b)Excess Baggage.

.
.

440 (c) Freight (d) Mail 235,580 739,766 840,340 2,593 3,624 1,731 1,873 528 21% 26% & 248,517 4,358 1,027,;_J 2,009 797,'589 6,437 32,428 2,905,655 11,700,863 25% e ton Mis.

Availabl Weight Load F'actor 291,864 922,427 1,044,020 425,680 1,493,848 1,800,000 l,282,551 2,135,408 69% 62% 581% 60% I 1963 At the establishment of the Corporation on 1st September, 1963, the fleet consisted of 3DC-35 and 3 Grummans and later a Cessna 310G was added.
Except for the Grumman which operated from the Ramp, Ruimveldt, the Corporation's fleet operated out of Atkinson.

The DC-35 operated into 24 aerodromes carrying some 5,716 passengers and 2,110 tons of cargo.

Local charters were stopped in July 1963, and scheduled and special services were in- troduced which enabled the Corporation to improve its revenue earning capacity.

During 1963, overseas charter flights declined sharply.
The Grumman operating in 23 aerodromes, carried some 4,200 passengers and 140 tons of cargo.

Traffic fell off somewhat due to the 'Big Strike'.

For the fleet there was an increase in available seat miles of 20% over 1962 but ap- proximately the same rn*nber of passengers were carried as the previous year.

The pas- senger load factor declined.

Available ton miles increased by 20% but there was a 44% increase in cargo.

Weigiht load factor increased 8%.


1964 The fleet remained precisely the same as in 1963.

Flying operations increased but passengers carried declined though cargo carried went up only slightly.

Load factors in respect of both passenger and cargo fell.

The route network was rather similar to that of 1963.

1965 Late 1965 a fourth DC-3 was bought but it did not enter service during that year.

Fly- ing operations went up slightly but passenger and cargo traffic rose by a greater percent- age.
Though passenger load factor increased by 5% weight load factor declined by 4%.

Overseas charters were extremely good, meat flights being the main source of revenue.

1966 1966 was a good year in that flying increased by 13% with DC-3 flights going up 22% though Grumman flying declined below 1965 level.

Passengers carried increased by 22% and cargo by 23% with passenger load factor dropping slightly and weight load factor in- creasing by a small margin.
With the introduction of the fourth DC-3 available ton (miles went up by 19%.

AGENCIES Total Saleri ($G) 679,368.00 2,118,030.00 2,481,380.00 3,459;551.80 1963 1964 1965 1966 4 Through the years -1963 to 1966 there has been a stea:dy Agenoies and BOAC.

Between 1934 and 1.966 sales went up by 63% reaching and, of course, Department the handling charges nearly $3% mmioo.
increas,e in the S'ales in the flying by BWIA from increased PERSONNEL· 1963 1964 1965 1966 Total Staff 217 227 258 309 Staff steadily increased over the years with the growth of activity.

TECHNICAL Though flying through the years 1963 to 1966 increased steadil y resulting in a require­ ment for mor-e maintenance, Costs were rising out of proportion ried out at split bases - Atkinson uneconomic.

ance at Atkinson .

facilities very poor.


for carrying to the increased to be car­ and the Rarrup - and whiclh proved to b,e very much out tnis work remained Maintenance continue flying.

Plans were, therefore, being drawn up in 1966 to amalgamate the mainten­ There was generally production maintenance of skilled which was very low in 1963 continued a shortage personnel but despite these defi­ to improve though not satis­ ciencies factorily.

Pilots, activities.
Pilots, activities.

were six persons captains, particularly Tlhere was a ga,p in the training sent for trair1ing.

were also in short supply and this restricted expansion of programme for some years an<l not until 1966 Inadequate communications over the years did not peTmit effective utilisation Corporation poration vices were delayed 's fleet.

In addition could not notify customers or cancelled.
to not achieving at stations the best possible load factors not equipped with radio facilities o.f the the Cor­ ' when ser­ Airstrips have been in a deplorable sealed.

There has been prolonged The poor surfaces have contributed that at least those airstrips, weather.

It is ·essential properly unto important points such as Tumereng, able to serve these areas adequately.

could provide tlhe Corporation and near interior points.
state, y to sending significantl some of which had to be closed during bad costs up.

maintenancie operations, of ne1w airstrips into which there are frequent delays over the ,construction N.W.D., Ope1rati.on E:ssequibo of passenger coast.

The Gru)mman is un­ out of Georgetown servic-es be with considerably increased revenue particularly to coastal 5 Training throughout the Corporation is nece.ssary at all levels and plans have been for improving skills More ·emphasis in the various departments.
was to be placed p,repared on training at middle.

management leve�.

For the future the Corporation needed more modern and efficien mit expansion steps-should be taken early to provide better hangar facilities of its operations.

Improvement in its ground support was also necessary, and communications serviees.

t equipment to per­ and 6