Word: aircraft
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Dates: during 1950-1959
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MCDONNELL AIRCRAFT CORP. will get new contract for more than $100 million from Navy for Phantom II jet fighters, a carrier-based supersonic (Mach 2 plus) plane...
...formation. Two twin-jet Scimitar fighter-bombers barreled in for a landing, folded their wings just in time to allow a third Scimitar to fly in head-on between them. But all the planes on display and the superb acrobatics could not hide the fact that Britain's aircraft industry is losing altitude fast. Even the empire-loving London Daily Express warned its readers not to be "fooled" by "the Farnborough...
...aircraft industry is under fire from all sides. British editorialists charge that companies are too conservative to press far-out research, too slow to push mergers that would give them greater resources to develop new products. The unions are also up in arms. Last week the British Association of Supervisory Staffs, Executives and Technicians issued a broadside that likened planes shown at Farnborough to "dashing debutantes at the Queen Charlotte Ball: one appearance in lights and white, followed by oblivion." The association blamed the industry's decline on "unparalleled government muddle, management inefficiency, and a seemingly complete disregard...
...current rates, aircraft profits will drop from $614 million last year to $350 million this year. Does an industry earning $350 million have cause for worry? "You buy stocks on the earnings outlook," said one Wall Streeter, "and almost all the aircraft earnings will continue to nose down." Compared with their 1959 highs, all aircraft stocks are well down. General Dynamics has dropped from 66½ to 48½, Martin from 62½ to 38¼, Douglas from 59¼ to 46, North American from 52⅝ to' 37¼, Grumman from...
...enormously profitable to the airlines. Boeing has delivered 55 of its 7075, has orders for 197 in all. But it still needs orders for 50 more before it can hope to turn a profit, is losing $500,000 to $750,000 on each one it delivers. Douglas Aircraft last week won FAA certification for its DC-8, which will be put in service this month by United and Delta airlines. Even though Douglas has 143 planes on order, it needs to turn out many more before it can make a profit on the liner. General Dynamics' Convair Division...