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The operating record in 1956 and prior years was as follows:

1956 1955 1954 1953

Revenue Passengers* .......... 43,205  24,569  8,758  1,513
Express (lbs)* ............... 1,907,373  1,758,534  159,450  -
Freight (lbs) ................ 607,023  473,785  359,360  141,116
Mail (lbs) .................. 1,159,704  1,412,181  2,354,464  3,347,456
Scheduled revenue ton miles carried ........... 108,306  79,313  53,314  43,926
Revenue load factor (%) ...... 52.21  51.13  34.04  32.87
Scheduled miles flown ........ 429,224  387,773  391,435  334,100
Schedule completion factor (%) 77.32  82.07  84.21  82.72
Charter hours flown .......... 209  149  167  52
*Passenger service was commenced in July, 1953 and express service in October, 1954.

Thus, in 1956, the Company's passenger traffic increased 76% over 1955, cargo traffic increased 13%, and charter hours flown increased 40%. The volume of mail has begun a marked upturn as a result of the inauguration of service to Manhattan. As contrasted with the monthly total of 96,642 pounds averaged during 1956, mail loads are now running at the rate of some 200,000 pounds per month.

The rapid growth of your Company's passenger traffic was due primarily to our success in achieving public acceptance of New York Airways' services and our ability to increase frequencies as required by the demand. In large measure this growth was also attributable to the program, commenced in 1955, for the established of joint fare arrangements with the fixed-wing airlines serving New York. Such arrangement have been consummated with sixteen international and domestic airlines, thus integrating your Company's operations into both the air transportation system of the United States and the international route network. 

NEW EQUIPMENT. During the latter part of 1956 your Company took delivery of three Sikorsky S-58 helicopters for which commitment had been made in 1955. These are the largest and most advanced helicopters now in civil operation anywhere in the world, and New York Airways was the first to inaugurate scheduled service with this equipment. As compared with the maximum of seven passengers which can be accommodated on the older S-55's, the S-58's provide seating capacity for twelve passengers. This new equipment also offers a substantial improvement in operating efficiency and passenger comfort, including greatly reduced noise and vibration levels.

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