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31.12.2004 Business & Finance

GCAA increases profit

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Accra, Dec. 31, GNA - The Ghana Civil Aviation Authority (GCAA) increased its revenue by 7.8 per cent this year as a result of the liberalisation of the air transport market, increased flight operations and prudent financial management.

The Acting Director General of the GCAA, Nii Adumansa-Baddoo, said this at an end of year reception attended by representatives of airlines, agencies and companies in Accra.

He said despite the 25 per cent reduction in aeronautical charges, which initially reduced GCAA's earnings, flight operations shot up while airlines increased their flight frequencies, compensating for the initial loss.

The Acting Director General noted that the aviation industry had witnessed significant improvement globally compared to the preceding years, which Nii Adumansa-Baddoo attributed to the devastating effects of the September 11 terrorist attacks in the US. The other factor was the SAS epidemic.

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