AVIATION: Prize for Boeing

Boeing's President William McPherson Allen flew into Seattle from Washington last week with a big smile on his face and a bigger contract in his pocket. Boeing had won the Air Force competition for jet tankers over both Douglas and Lockheed. Prize: a $460 million contract for a "substantial" number (more than 200) of KC-135s, the modified version of Boeing's 707 prototype jet transport (TIME, March 8, 1954). For Lockheed, there was a consolation prize consisting of a development contract for an "advanced" type of tanker.

The big new contract, along with the...

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