AVIATION: Straighten Thinking, Period

Distress signals flared on U.S. airlines. After a brief spell of profit-making in June, the domestic airlines had nose-dived into red ink in July, normally a peak season. For lack of business, American Airlines, the nation's biggest domestic line, had laid off 78 mechanics, lost $5,000,000 in 1948's first half. Only Eddie Rickenbacker's Eastern Air Lines was still making money. Last week Rickenbacker reported a six months' net of $1,321,065, up slightly ($3,000) from the 1947 period.*

Although Rickenbacker's Eastern was doing all right, he was worried about the industry: "If the airlines can't make money in the greatest period...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!