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Outlook On February 19,1948, the Civil Aeronautics Board awarded your company a three-year Certificate of Public Convenience and Necessity to carry persons and property over the route for which we applied. This is now designated as Route 89, and we expect to commence opera- tions on June 1, 1948. The initial schedules call for three round trips daily between the terminal points Rye Lake, New York, and New London, Connecticut, via LaGuardia Field, New York, Mineola, New York, MacArthur Airport, New York, Westhampton, New York, East Hampston, New York, and Fishers Island, New York; five round trips daily between the Terminal points MacArthur Airport, New York, and New Haven, Connecticut, via Bridgeport, Connecticut. We contemplate operating 300 days per year, 65 non-operating days being allowed for weather and traffic adjustments. Available passenger miles are 7,017,000, and our break-even load factor is 50% without figuring revenue from freight, express, miscellaneous charters and other income. Number of airplanes in fleet (DC-3's) 3 Cruising speed 150 Block speed 120 Airplane utilization - hrs./yr. 3,000 Available seat miles/yr. 7,017,000 Seat miles at 50% load factor 3,508,500 Direct flying cost/airplane hour $88.09 Indirect Expense/airplane hour 39.26 Total Expense/airplane hour 127.35 Note: Revenue figures do not include express, freight, charter and other income. Revenue/yr. at 80% load factor $619,920.00 Gross Profit 237,938.00 Revenue/yr. at 60% load factor 464,940.00 Gross Profit 82,958.00 Revenue/yr. at 50% load factor 387,450.00 Gross Profit 5,468.00 Our aircraft will be twenty-one passenger DC-3's, economically equipped to provide safe, efficient and comfortable travel. Scheduled airline standards will be strictly adhered to, and in several instances surpassed. Expenses will be held to the minimum necessary to guarantee the safe, efficient operation which we propose. Of the original authorized issue of 95,000 shares of Common Stock of fered for public sale early in 146, we sold 48,577 shares. Of this issue there remain in the treasury of the company 46,423 Common shares which are available for the purpose of additional financing. Further shares authorized in the corporate structure
Transcription Notes:
operations could be one word; "terminal" in the first paragraph doesn't need to be capitalized; "offered" in the last paragraph should be one word; "1946" is missing the 9