"There is reason for deep concern," American Airlines' C. R. Smith advised the Civil Aeronautics Board. In less than a year, the company's operating cost per revenue ton-mile jumped 27%. Its net profit for 1952's first quarter was $628,000, compared to last year's first-quarter net of $2,915,000. All the other big lines told CAB the same story; all wanted to raise their fares. Last week CAB authorized a $1 hike on all airline tickets, whether for a 50-or a 3,550-mile trip. Estimated cost to air travelers: $16 million a year.
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