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In addition to the airmail application, the company has applied for extension into Newark, New Jersey, for a shuttle service franchise between all airports owned or controlled by the Port of New York Authority, and for helicopter mail service in the New York City area, as required by the U. S. Post Office Department.

Every available ethical means of increasing the company's income was exploited during 1948.

OUTLOOK
In April, 1949, IAF secured a two-year permit from the Port of New York Authority under which the company operates the sightseeing flight concession from both the Idlewild and LaGuardia Airports.  Operations were started thereunder on May 1st, and 87 revenue passengers were carried at $3.75 per person during the first 125 minutes of flying time (5 flights).  An intensive, but judiciously budgeted an advertising program is developing this business to an important position in the company's revenue-producing activities.

Our mail application, Newark extension and shuttle service authorizations are all grouped in one CAB proceeding, hearing for which was held in Boston on March 8 to April 1, 1949 and decision upon which is expected early in the summer.

Also from this proceeding will come decision upon Northeast Airlines' request to relinquish that portion of its route (New London to New York via Riverhead and Islip) which is co-incidental with IAF's route.  Your management does not believe it prudent to expend further funds upon the development of this route until the above decisions are clearly in hand. 
 The Civil Aeronautics Board has been assured, if these decisions are favorable to IAF's purposes, that our route will be in full operation within (a maximum of) six months following such decision.