Word: sst
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Dates: during 1960-1969
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...roar of publicity over such super-commercial airplanes as the SST and Boeing's 747 jumbo jet has largely drowned out the hum of a smaller but still important market. Lured by the economy of jet planes and lifted by their earnings from increased traffic, regional airlines around the U.S. have been moving into the jet age, casting off decrepit DC-3s and aging Convairs, which gave them their start. British Aircraft Corp., with its BAC-111, and both Boeing and Douglas have tapped the regional market with small, fast jet airplanes designed for short runs and shorter runways...
Since then, Fairchild Hillers sales have climbed from $115 million to $210 million for 1966. Along with the F-228, the company is engaged as a major subcontractor on the McDonnell F4, the Boeing 747, the SST, and it is working with West German designers on what could be a multibillion-dollar verticaltakeoff and landing aircraft. With such projects under way, Fairchild President Edward G. Uhl's forecast of doubled sales within the next six years seems somewhat conservative...
...first supersonic jet transport, the big bird has remained in a stall. In a bind over budget and congressional problems, President Johnson held back on funds that Boeing and G.E. need to make prototypes. Last week, however, the Administration hit on a new maneuver to start the SST toward...
Quite simply, the Administration wants more tangible support from the most voluble champions of the SST. This week chiefs of the plane's U.S. customers-eleven airlines and one leasing company-will meet with Federal Aviation Agency brass to hear a plan for their direct participation in the prototype financing. The FAA wants them to chip in $1,000,000 for each of the 58 planes they have on order, over and above the $100,000-a-plane deposits they have already made. Later, foreign airlines, which have signed up for 56 SSTs, may be asked to join...
Beyond their relatively small deposits, the only monetary stake the airlines have had in the SST until now has been an agreement to help the Government recoup its investment by paying royalties once their planes are delivered. To be sure, the "progress payments" will not account for much of the two prototypes' estimated $5 billion cost, 90% of which will be paid by the Government. But the airlines' show of confidence could have some clout with an ornery Congress that includes liberal Democrats who fear the poverty program will suffer from the SST...