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During the first year New York Airways will have an average fleet of 7.25 V-107 helicopters operating on scheduled services. Thereafter, through June 30, 1972, the operating fleet will consist of eight V-107 helicopters. An eighth aircraft will be obtained on a lease purchase arrangement effective October 1, 1967, and specifically will enable the inauguration of the modification program referred to above as well as the continuation of the IFR training program. Since the modification program will be completed on March 31, 1958, the eighth aircraft will become available for scheduled operations on April 1st of that year. Throughout the period from October 1, 1967 , through March 31, 1968, the number of aircraft available for commercial use will be seven since the modification program will occupy an average of one ship at all times.

The aircraft utilization throughout the five year period will be primarily a function of schedules approved by Pan American and TWA. It will not be controlled by aircraft availability. In the latter two years, if not before, we would hope to find use for some aircraft time at night and in other off-peak hours for cargo transportation.