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service as well as the movement of passengers, freight and express originating from or destined to the West Side of Manhattan. The growing surface congestion in the city, however, has long pointed to the need for additional heliport facilities thus extending the usefulness of New York Airways to a larger segment of the traveling public.

In keeping with previous plans and through the co-operation of the City of New York and the Federal Aviation Agency, The Port of New York Authority is commencing the construction of a second Manhattan heliport. This heliport will be located just below the foot of Wall Street and your Company plans to inaugurate scheduled operations through this facility in 1960. There is every reason to anticipate that the convenience of this location will substantially stimulate passenger and Post Office demand for New York Airways' scheduled service.

The Port of New York Authority, as noted in our previous annual reports, has announced its intention to construct other heliports to be located on the East Side of midtown Manhattan, in Brooklyn, Staten Island and in Newark. The completion of such facilities will importantly boaden the opportunities of New York Airways to provide improved service to and from the Manhattan metropolitan area.

Outlook

The public usefulness of your Company's service is well established. New York Airways is proud to participate and make its contributions in facilitating the benefits of jet transportation.

The time-saving and comforts of Trans-Atlantic and Trans-continental airline jet movements may be largely minimized by the congestion in surface travel to and from the New York International Airport (Idlewild)-far removed from the center of population in the metropolitan area. By providing an effective "direct service" operation in this area, New York Airways eliminates the exasperation and time-consuming delays which frequently accompany trips by surface means to and from the airport.

Your Company has established joint fare arrangements with 23 international and domestic airlines serving the New York market, thus becoming an integral part of extensive international and domestic air route patterns.

New York Airways continues to be dedicated to its mission of serving the area to which it is certificated. The success of New York Airways reflects the enthusiastic support of the communities served and the growing volume of business from the traveling and shipping public plus the devoted efforts of an experienced complement of employees and the loyal support and confidence of its stockholders.

BY ORDER OF THE BOARD OF DIRECTORS
Robert L. Cummings, Jr.
President

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