Word: convairs
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...aircraftmaker last week set up a rental agency for airlines that need new planes but lack the cash to buy them. Floyd Odlum, whose Atlas Corp. controls Consolidated Vultee Aircraft Corp., announced that he would form a $50-million-plus company to buy 100 twin-engined, 40-passenger Convair-Liners. (It will also give Convair some badly needed business.) The planes will be rented out to airlines which may buy them later at cost less depreciation. Odlum hopes eventually to finance the planes of other aircraftmakers in the same...
...north to Seattle, back to San Diego, then to Fort Worth, north to Dayton and back to Fort Worth before it finally landed, more than 19 hours after its takeoff. It looked as if the transport version of the B-36, the XC-99, would have no trouble fulfilling Convair's promise to carry 400 passengers for 8,100 miles nonstop...
...Motte T. Cohu, who resigned as T.W.A. president last month, was named to succeed ailing Harry Woodhead as president of Consolidated Vultee Aircraft Corp. Cohu was chairman and general manager of Northrop Aircraft, Inc. for eight years before his term with money-losing T.W.A. Bogged down by production tangles, Convair lost $5,130,338 in the five months ending April...
Aircraft shares led last week's little parade. Their earnings were the poorest of all U.S. business but their prospects were good; some of the military manufacturers (e.g., Convair, Boeing and North American) already had backlogs in nine digits. In a week when General Motors (with a record profit) hit a low for the year, Douglas Aircraft hit a high of 63⅜, though it reported a loss...
...approved a plan to separate the company from its non-aviation interests, including a general manufacturing plant (stoves, frozen food storage units, etc.) in Nashville, Tenn., and part ownership of the ACF-Brill Motors Co. They will be incorporated in a new company, the Nashville Corp. By the deal, Convair's present parent, Victor Emanuel's Avco Manufacturing Corp., will get the controlling interest in the new company. Floyd Odium's Atlas Corp., Convair's second biggest stockholder, will take control of the aviation properties...