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these carriers and to dispose of all the issues involved in such operations.

Of course, what will be the outcome of these proceedings will depend on the evidence produced and the Board's assessment of the record. In this connection, I should point out that these will be formal hearing cases, in which all interested persons, including governmental agencies, may participate.

The show cause orders instituting the proceedings propose that the temporary certificates of Los Angeles Airways and New York Airways be made indefinite, but not that of Chicago. The present order does not propose a renewal of the Chicago certificate, largely because of the impact upon the carrier's operations of the closing of the Midway Airport.

That does not mean, however, that the carrier will not be heard upon any application by it for renewed authority, but rather means only that the instant proposal is to impose subsidy limitations for the duration of the present certificate.

These orders propose to insert conditions in the carrier's certificates which would place ceilings on further subsidy, and permit a phaseout of subsidy by fiscal 1971 which would not exceed an aggregate of $13.5 million, as follows:
Fiscal 1966........$4.2
Fiscal 1967.........3.6
Fiscal 1968.........2.7
Fiscal 1969.........1.9
Fiscal 1970.........1.1
Fiscal 1971.........0

Senator MONRONEY. What is the amount in the current fiscal year just closing?
Mr. BOYD. $4.3 million.
Senator MONRONEY. So you are phasing it down to $4.2 million; is that correct?
Mr. BOYD. Yes, sir.
Senator MONRONEY. And the year before, what was it?
Mr. BOYD. $5 million in fiscal 1963 and $4.3 million in 1964.
Senator MONRONEY. $5 million?
Mr. BOYD. Yes, sir.
Senator MONRONEY. That would be for fiscal 1963 and 1964?
Mr. BOYD. Yes, sir.
Senator MONRONEY. $4.3 for fiscal 1965?
Mr. BOYD. Yes, sir.
Senator MONRONEY. And $4.2 million for fiscal 1966? Thank you very much.
Mr. BOYD. These figures are predicated on the use of twin-engine turbine-powered equipment; reductions in cost levels; and continuing improvement in performance, load factors, and revenue yields at higher rates. There are a number of improvements which can be anticipated in the next few years which will result in better service and lower unit operating costs.

I have already referred to the impending institution by both New York Airways and Los Angeles Airways of instrument flight operations within the next few months. This will be a major advance and will bring the same kind of schedule reliability to helicopter service which the air traveler has come to expect for fixed-wing operations.

Under present conditions, the completion ratio of the helicopter carriers has been far below the 98 percent achieved by the trunk and local service carriers--as low as 76 percent for New York Airways.