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...
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