i would guess that figure is result of purchasing a fleet of new aircraft.
Only aircraft depreciation is included in the Profit & Loss Statement, not total aircraft capital cost, besides, all aircraft appear to be leased so only lease payments would be included. Airlines normally re-fleet with more efficient aircraft or less maintenance intensive aircraft to improve profitability.
PNG Air half yearly results a loss of NGK13.9 mill on NGK120.8 mill (11.5%). Last share sale was NGK0.07 (7 Toea) per share. Net Assets/Shareholders Equity only NGK1.7 mill??
They urgently need Mr Joyce from Qantas!
