AEROSPACE: New Life for TriStar

In the rough-and-tumble aircraft industry, where fortunes are made and lost on Government contracts, Lockheed has taken more than its share of tumbles. Over the years, it rolled up $480 million in losses on four military projects. In February, already cash-starved, it ran into even more trouble on its biggest venture into commercial aircraft: the L-1011 TriStar airbus. Rolls-Royce, supplier of engines for the TriStar, went into receivership and the British government refused to finance production of the engines unless the U.S. Government assured it that Lockheed could pay for them.

Now,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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!