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Employee Relations

On December 31, 1965, New York Airways employed a total of 345 persons.

New agreements were concluded with the Transport Workers' Union representing the maintenance personnel, and with the Air Line Pilots Association representing the pilots and stewardesses. Labor negotiations interrupted no flight schedules.

Industry Cooperation

It would be difficult to overstate your Company's gratitude to Pan Am and to TWA for entering into financing and operating agreements with New York Airways at the time when the Civil Aeronautics Board failed to make subsidy payments. These companies made it possible for New York Airways not only to continue its operations, but also to plan for the further expansion essential to the attainment of economic self-sufficiency.

Special acknowledgment is also due the many other air carriers each of whom carried on a program of advertising and publicity in behalf of the scheduled helicopter operators and, through increased financial support in the form of improved joint fare agreements, have assisted New York Airways to continue the development of its services.

[[6 Columned Table]]

| Aircraft Type | Initial Year in Service | Cruising Speed (Miles per hr.) | Seats | Seat-Mile Production per Flight Hour | Direct Cost per Seat-Mile |
| Sikorsky S-55 | 1952 | 80 | 5 | 255 | 47¢ |
| Sikorsky S-58 | 1956 | 85 | 12 | 796 | 24 |
| Vertol V-44 | 1958 | 85 | 15 | 858 | 26 |
| Boeing V-107 | 1962 | 155 | 25 | 2,483 | 18 |
| Next Generation (Est.) { | | 180 | 45 | 5,600 | 9 |
| | | 200 | 60 | 8,200 | 6 |

The table above sets forth significant operation information concerning the equipment utilized in New York Airways' services thus far and, in addition, indicates similar results that may reasonably be expected with the next generation of rotary wing aircraft, versions of which are now in military use.

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