AVIATION: Musical Chairs

For every jet that rises into the U.S. skies, U.S. airlines will have to find a way to sell two or three of their piston planes. Last week a young (31), gangling (6 ft. ½ in.), onetime hedgehopper named Frederick Ayer showed how the trick can be done—with a tidy profit for himself. From his 24-room office suite in Manhattan, Fred Ayer announced the purchase of 45 Douglas DC-6s (value $30 million) from American Airlines, plus first refusal rights on the $23 million worth of DC-6s left in American's fleet.

The sale puts...

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