The Civil Aviation Safety Authority made an operating loss of $5.5 million for the 2014-15 financial year, according to CASA's 2014-15 Annual Report released late last month.
The deficit was the difference between an income of $177.6 million and operating expenses of $183.1 million. The result is 3% more than last year's loss of $4.2 million.
"The difference of $1.3 million [over 2013-14] reflects the overall result of a decrease in income of $3.1 million offset by a decrease in expenses of $1.8 million," Director of Aviation Safety Mark Skidmore explains in his review.
"This was mainly due to a reduction in fuel excise receipts and a decrease in employee benefits expenses."
However, the loss was less than the $8.2 million forecast in the Portfolio Budget Statements.
The aviation fuel excise reaped $117.8 million for the regulator, representing 66% of the total income. Government injections made up 24%, with other revenue streams accounting for the remaining 10%
In 2013-14, the reported fuel excise figure was $120.1 million.
CASA is already forecasting a loss of $10 million for 2015-16, before expecting to bank small surpluses in the following three years.
The entire annual report can be downloaded from the CASA website.