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Airways, without undertaking a major capital commitment, to employ these aircraft where and when this would advance the Company's interests. 

As a result, the total twin turbine fleet presently available for the continuing development of the Company's services has now been brought to the level of nine units, -- i.e., the seven Boeing V-107s and the two Sikorsky S-61s referred to above. 

October 1963 Accident
On October 14, 1963, one of the Company's V-107 helicopters crashed shortly after takeoff at Kennedy International Airport, resulting in the death of the three crew members and three passengers aboard as well as the complete destruction of the aircraft. The accident was caused by an insufficient amount of lubricating oil reaching one of the components of the aft transmission system as a result of milling chips blocking the oil passage. 

Appropriate steps have been taken by the manufacturer and New York Airways to assure that such a failure will not occur again. These include replacement in all V-107 aircraft of the failed component, which has

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