NEW AIR SERVICE
THE BRITISH CORPORATION BIG SPENDING CAMPAIGN hem Association- -By Telegraph--Copyright LONDON, June 13. The new. overseas air service will be financed by the issue of Airways stock, which can also be used to pay the purchase price of .the shares. The corporation may borrow £10,000,000, the Treasury underwriting this. The 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. - -
'The ‘ Daily Express ’ says 12 airliners, costing £1,000,000, have been ordered by the Air Ministry as the first, step in a mammoth spending campaign recommended to put the corporation on equal terms with foreign competitors. The machines ordered are the new British Fairey type, but more machines are being bought temporarily from the United States until the Faireys are manufactured.
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Bibliographic details
Evening Star, Issue 23292, 14 June 1939, Page 12
Word Count
141NEW AIR SERVICE Evening Star, Issue 23292, 14 June 1939, Page 12
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