Word: aire
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Dates: during 1950-1959
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...AIR CREDIT CARD battle is expected to follow Western Airlines' application for CAB permission to honor credit cards other than airlines' own Universal Air Travel card. Other airlines, with 900,000 Universal members, do not want to accept outside credit cards, which would cut into their profits...
Rockefeller got blooded in venture capital by helping round up $3,500,000 to refinance young Eastern Air Lines in 1938. He saved the day for one of his boyhood heroes, President Eddie Rickenbacker, who almost lost control to a bump-Rickenbacker group. Rockefeller took 24,400 shares of Eastern at $9; each is now worth $155 on a pre-split basis, and Rockefeller, with $3,970,000 worth, is Eastern's biggest stockholder. In 1939 an unknown plane designer, J. S. McDonnell, came to him with some paper plans for an advanced type of fighter. Rockefeller...
...Government last week took an old-fashioned ax to the next generation of U.S. military aircraft in what may well be the start of a new cutback in aircraft and missile programs. The Air Force announced that it was abandoning plans to produce high-energy boron aircraft fuels at Olin Mathieson Corp.'s two-city-block, $45 million plant near Niagara Falls, which was scheduled to deliver its first batch of exotic fuel this month. It also canceled a contract with the General Electric Co. for producing the J-93-5 engine to power North American Aviation...
...pare down the 1961 budget. It put an end to present hopes for boron-powered planes that would get 40% more energy out of a pound of fuel, thus increase their range (or speed) without adding weight. The Navy has already spent $122 million in the program, the Air Force another $110 million. The first group of 20 B-70s with boron afterburners would have cost $3.5 billion, and the boron fuel to power them would have been about 100 times more expensive than conventional, petroleum-product fuel...
...Air Force v. Navy. The Air Force still sees great promise in high-energy fuels for rockets and ramjet engines, intends to continue working on them at two small pilot plants. But the Navy has decided to abandon its work in the field entirely, convinced that boron fuels do not hold the great promise it expected...