Word: backed
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Dates: during 1950-1959
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Manhattan businessmen will be able to commute to San Francisco for lunch, be back home after an afternoon's work in time for bed. Weekend flights to London and Paris will be as easy-perhaps easier -than weekend drives to the country in jam-packed Sunday traffic...
...will be greater than any other line's. It carries 8,000,000 passengers per year, one in every six Americans who fly in the U.S., and almost twice as many revenue passengers as all overseas U.S. airlines combined. Already its Boeing 707 jetliners are whooshing back and forth across the U.S. on shakedown flights as regular as scheduled trips, cutting cross-continent flight time by more than three hours: 5½ hours from New York to Los Angeles, 4½ hours to return. On most of its major routes, American will start jet service months ahead...
...financial coup by arranging to sell $40 million in preferred stock issues and $40 million in debentures, by far the biggest airline financing till then. Since the unprecedented move came at a time when airline finances were weakening, it was touch and go whether the underwriters would not back out at the last minute. Said Smith to an associate, when he sat down to sign the deal: "Boy, if we hadn't got to work on time this morning, we wouldn't have any deal...
...kerosene per hour). American's 1,000 maintenance men must virtually relearn their jobs; the jet training manual alone consists of two volumes four inches thick. ¶ Charles A. Rheinstrom, 56, executive vice president for sales, quit American in 1946 after 18 years, went into advertising, came back this year at Smith's request to take on the job of selling jet seats to the public. In the 1930s Charlie Rheinstrom was the first to meet head on the public fear of flying, which other airlines ignored, with an unprecedented ad titled "Afraid to Fly?" ¶ William...
Says Smith: "Sure, we could build a plane to go through the sound barrier right now. But we couldn't get our money back. We couldn't charge enough for a ticket." He expects the present jets to be around for a long time...