Word: bea
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Dates: during 1970-1979
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...quick counterpoint neatly symbolized Lockheed's so-so progress in the year since Congress saved the company from bankruptcy. On balance, the good news clearly outweighed the bad. Selling the TriStar is absolutely vital to Lockheed's future, and the BEA order -the first for the TriStar in almost two years-was a welcome indication that Lockheed can keep itself going. Development and eventual production of the Cheyenne helicopter would have helped Lockheed, but cancellation will cause little if any out-of-pocket loss: the company has already written off $132 million of development losses on the helicopter...
Understandably, then, the BEA deal was signed in London amid an almost cloying exchange of mutually admiring remarks between BEA Chairman Henry Marking and Lockheed Chairman Daniel Haughton. BEA will pay $147 million for delivery of the six planes starting in the fall of 1974. Marking denied that his nationalized line was prodded into the deal by the British government in order to expand the market for engines made by the government-owned Rolls-Royce. Even so, BEA is not likely for many years to phase out its fleet of British-made Trident jets and switch wholesale to the TriStar...
Money Needed. Moreover, the BEA options to buy six more planes are less than they seem. Marking noted that his airline would exercise its option only for a "variant" of the present version, very possibly a longer-range plane with a more powerful Rolls-Royce engine. If Lockheed can produce the new model, the British government has promised to provide 75% of the $76 million that Rolls-Royce would need to develop the engines. But Lockheed will have to put up an estimated $80 million to $100 million to develop the modified plane, and it does not now have...
...change in droop setting at this time can cause a stall. Normally, the adjustment of the droop is made by the copilot, and Captain Key had two relatively inexperienced copilots aboard. "It could have been that whoever was adjusting the flaps pulled the wrong lever," said a senior BEA pilot...
There might be Dayak matrons in the forests of Borneo, Noel Coward once wrote, who would reduce you to helpless laughter. There might also be unspeakably hilarious female Pygmies in the jungles of the Congo. But in our civilization, he concluded, Bea Lillie must be the funniest woman alive...