B.O.A.C.-Cunard Link On Atlantic Air Route
(N’ZJ’.A.-Reuter—Copyngbt)
LONDON. June 6. The formation of a new airline company, 8.0.A.C.Cunard. Ltd., was announced today. The partners. British Overseas Airways Corporation and Cunard. the British shipping line, said they had joined together to co-operate on Atlantic air routes.
The agreement signed today provides that the initial share capital of 8.0.A.C.Cunard. Ltd.. will be £30.000.000, with 70 per cent, being contributed by the corporation and 30 per cent, by the shipping line. As part of this capital 8.0.A.C. will put into the new company eigh; Rolls Royce Boeing 707’s and Cunard will put in their two 707’s. The area of operations of :he new company will be Britain to the United States. Central America, the Mexican Gulf and Caribbean areas, with extensions to Peru, Ecuador, Colombia, Venezuela and Britsh Guiana. Chairman Chairman of the board will be Sir Matthew Slattery, with Sir John Brocklebank as deputy chairman. A Reuter correspondent said the new company would provide the biggest British challenge ever to foreign competition on Atlantic air routes.
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Press, Volume CI, Issue 29843, 8 June 1962, Page 15
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174B.O.A.C.-Cunard Link On Atlantic Air Route Press, Volume CI, Issue 29843, 8 June 1962, Page 15
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