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(No response.)

Senator MONRONEY. We appreciate your appearance before this committee and the completeness of your responses.

Senator LAUSHE. Did anyone from the administration speak to you after they cut your requested $4,200,000 down to $2,100,000?

Mr. BOYD. No, sir.

Senator LAUSCHE. That this program must be brought to an end?

Mr. BOYD. No, sir.

Senator LAUSCHE. Did you construe that reduction as an implied direction that it be brought to an end?

Mr. BOYD. I think what we construed it as, Senator, giving these operators a lease on life, a financial lease on life, long enough for the substantive committees of the Congress to decide what Congress should do about it.

Senator LAUSCHE. That is all.

Senator MONRONEY. Let's get this straight, because we are finding ourselves in conflict with the Budget, and maybe the Budget didn't look it up to find out how many of these lines you have underwritten. What is the total outstanding amount of your underwritings?

Mr. BOYD. Total loan outstanding is for the Los Angles Airways which I believe involves several million dollars.

Senator MORONEY. Would you get that for the record?

Mr. BOYD. Yes, sir.

(The following information was received from the Civil Aeronautics Board:)



The Department of Commerce, which administers the loan guaranty legislation for air carriers Public Law 87-820, Oct. 15, 1962), reports that the outstanding balance of the loan guaranty for Los Angles Airways on four S-61 helicopters was $2,022,000 as of January 31, 1965.

Senator MONRONEY. If these were terminated automatically at the end of the calendar year as it would have to be under the budget allowance, you might lose money by attempting to save money by the sudden discontinuance of the shock it would cause to the used helicopter market by thrusting, perhaps-

Senator CANNON. The military are buying a lot of them.

Senator MONRONEY. They are buying Iroquois, and these are not Iroquois.

Senator CANNON. They are getting some big ones.

Senator MONRONEY. Do you expect to see some new breakthroughs in the helicopter equipment?

Mr. BOYD. We have great hopes for the future in the guise of the CH-53-A.

Senator MONRONEY. Is that a big Sikorsky?

Mr. BOYD. Yes, sir.

Senator MONRONEY. How many passengers?

Mrs. BOYD. Somewhere between 60 and 65. We are not trying to promote for that future piece of equipment which is now coming off the lines for the Marine Corps. My understanding is that a commercial version would not be available until 1968 or 1969.

Senator MONRONEY. May I say that the Chairman had a very thrilling experience last Thursday, I believe it was, watching this VTOL