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CONFIDENTIAL DRAFT 10/13/67
[RIGHT MARGIN: We have a permanent certificate]

NEW YORK AIRWAYS
PROPOSAL FOR FINANCIAL SUPPORT

 The purpose of this memorandum is to outline a proposal for meeting New York Airways' financial requirements during the next four years. The proposal concerns the satisfaction of such financial needs only insofar as they relate to the continued performance by NYA of the services presently provided under its support agreement with TWA.
 TWA's proposal is premised on (i) our understanding that NYA anticipates achieving financial self-sufficiency within [?x] approximately four years and that, subject to the fulfillment of its existing contractual commitments, NYA believes it inadvisable to continue the provision of its services on a cost [checkmark] basis and without an opportunity for profit, and (ii) a belief that a significant part of the funds required by NYA to continue its present services during the next four years should be provided [O.K but 1)CAB 2)? ] in the form of an investment affording an opportunity to share in NYA's prospects once self-sufficiency is attained. 
 While the order of magnitude is subject to adjustment in light of NYA's anticipated financial needs over the period involved and the duration dependent upon the point in