AVIATION: Happy Days

For the long-faltering U.S. domestic airlines, the distress signals were finally hauled down. The Civil Aeronautics Board reported last week that the 16 major domestic carriers had a gross profit of $11 million for the twelve months ended

March 31, v. an operating loss of $16 million for the previous year. In the last three months, traffic had picked up so much that many an airline (e.g., American, United, Capital and Western) which had losses in 1949's first quarter thought it had earned enough in the second quarter to wipe them out and...

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