The stockholders of American Airlines, Inc., largest U.S. domestic airline, are a patient lot. For the last three years their company has been in the red, has paid dividends only six times in 16 years. Last week the stockholders finally got some good news. In 1949, thanks to higher mail pay, a 42% gain in freight traffic and a 15% rise in passenger traffic, American had netted the biggest profit in its history —$6.5 million (v. a 1948 loss of $2.8 million). That was equal to 79¢ a share.

But there would be no dividend just yet, even though American...

Want the full story?

Subscribe Now


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!