Word: first
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Dates: during 1960-1960
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Eastern Air Lines, once one of the nation's most profitable airlines, had sad news for stockholders last week. For the first nine months of the year, it lost $5.7 million, is likely to finish the year in the red and fail to make money for the first time since its incorporation in 1938. American Airlines reported that its earnings for the first nine months slid to $6,924,000 (v. $10,132,000 for the same period last year...
Eastern and American are not the only airlines feeling the pinch. Capital, National and Northeast have also been operating in the red. All told, in the first eight months, the combined profits of the nation's major airlines were only $930,000, a startling drop from earnings of $46,539,000 for the same period in 1959. The decline had a variety of causes. Although revenues for the airlines were up 9% this year, the cost of depreciating the expensive new jets shot up 27.8% and ate up profits. Operating expenses were up 16%, largely because of the increased...
Profits for a Few. Not all the airlines are in trouble. After losing money for the first six months, United Air Lines finally got more jets into service and made a brilliant recovery. Its third-quarter earnings were an alltime high and gave United a respectable profit of $9,711,535 for the first nine months. Hustling Delta Air Lines, the first line to fly DC-8s, has edged ahead of its archcompetitor Eastern in the number of passengers loaded at Atlanta. Continental Airlines, first of the smaller airlines to fly its own jets, has grown up with the commercial...
...broaden the attack on costs a top-level committee of General Bradley, Air Force Controller Lieut. General William D. Eckert and Inspector General Lieut. General Joseph F. Carroll last week launched 70 specialists into the field to survey management practices of Air Force prime contractors. First to be studied is Martin Co., Titan missile prime contractor. Martin was picked because the Titan program is at the stage where catching mistakes might save money. The Atlas missile program is too old, the Minuteman too young...
...undergraduate mock funeral. Disowned by his family, he spent eight months roughing it across Canada. The vast sky and the flat horizon-reaching grasslands left him with a numbing sense of oppression, "the fright of the mind before the unknown" that he came to believe "created not only the first gods, but also the first...