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[[strikethrough]] RESTRAINED[[/strikethrough]] LIMITED BY THE) CUBIC CAPACITY AND LIFT ABILITY OF OUR AIRCRAFT.

[[left margin]] V-44 JRA 3 [[/left margin]]

[[strikethrough]]AT PRESENT, OUR COMPANY OPERATES[[/strikethrough]] TODAY, WE OPERATE PURE ROTARY WING AIRCRAFT WITH A CAPACITY FOR FIFTEEN PASSENGERS. THIS TYPE OF MACHINE IS THE ONLY ONE CAPABLE OF VERTICAL FLIGHT, WHICH HAS BEEN SUFFICIENTLY DEVELOPED TO PERFORM COMMERCIAL FUNCTIONS.

THE MISSION CURRENTLY PERFORMED [[strikethrough]] BY OUR COMPANY [[/strikethrough]] IS THE DEVELOPMENT OF A COMMUNITY CENTER TO COMMUNITY CENTER AIRLINE, SERVING THE PUBLIC IN THE VICINITY OF NEW YORK. AT THE MOMENT, OUR SERVICE IS PRIMARILY COMPLIMENTARY TO THE TRUNK, INTERNATIONAL AND LOCAL SERVICE AIRLINES, BUT IT CAN BE AND ALREADY IS TO SOME EXTENT, AN ADJUNCT TO OTHER FORMS OF TRANSPORTATION AS WELL. # (arrow to left margin)(THE AVERAGE PASSENGER TRAVELS 18 MILES AND THE AVERAGE STAGE LENGTH IS 12 MILES). TO THIS END WE ARE SUBSIDIZED, THIS MEANS THAT WE RECEIVE FINANCIAL ASSISTANCE FROM THE GOVERNMENT (THROUGH THE CIVIL AERONAUTICS BOARD) WHICH IS BASED ON THE EXCESS OF OUR APPROVED OPERATING COSTS OVER OUR EARNINGS FROM COMMERCIAL SOURCES. IT INCLUDES AN ALLOWANCE FOR TAXES AND A RETURN ON INVESTED CAPITAL.

[[left margin]] Our procedures are the same as all other air carriers [[/left margin]]

FOR SOME TIME WE HAVE FORECAST THAT, UNDER CONDITIONS WHERE NEW YORK AIRWAYS SCHEDULES COULD OFFER HIGH FREQUENCY AND OBTAIN HIGH LOAD FACTORS, THE OPERATION COULD BECOME SUBSIDY-FREE. TO DATE, WITH HEAVY PISTON ENGINES 
(THAT HAS NOT)

[[left margin]]
NYA 107 4
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