MAMMOTH CAMPAIGN
BRITISH AVIATION
MEETING COMPETITION BY FOREIGNERS
LONDON, June 13.
The "Daily Express" says that 12 airliners, costing £1,000,000, have been ordered by the Air Ministry as a first step in the mammoth spending campaign which has been recommended to put the British Overseas Airways Corporation on equal terms with foreign competitors.
The machines ordered are of the new British Fairey type, but more machines are being bought temporarily from the United States till the Faireys are manufactured.
The new service is to be financed by the issue of Airways stock, which can also be used to pay the purchase price of shares. The corporation may borrow £10,000,000, the Treasury underwriting this. Profits must be paid into reserves, and half the profits, after reaching a certain point, must be paid into the Exchequer.
Only British aircraft and equipment will be used.
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Bibliographic details
Evening Post, Volume CXXVII, Issue 138, 14 June 1939, Page 11
Word Count
142MAMMOTH CAMPAIGN Evening Post, Volume CXXVII, Issue 138, 14 June 1939, Page 11
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