The Piedmonitor. online resource (None) 1951-19??, February 01, 1981, Image 1
February 1981 volume 32, number 1 News about Piedmont. The Up-And-Coming Airline. 1980 a record-breaking year 'You earned if Piedmont Aviation’s 1980 per formance left scarcely a single Company record unbroken. It goes down as the most successful year ever in terms of profitability, rev enues, and traffic. Final data for the year included many records. Among them are: • $16 million net income, the most ever, and 44 percent more than Piedmont's pre vious best year, 1979. • revenues just under a half billion dollars - $484 million - which were 34 percent higher than 1979's record $361 mil lion. • boardings of 5.7 million pas sengers, four percent more than 1979’s record 5.5 million. • revenue passenger miles total ing 2.36 billion: 22 percent above 1979's record 1.93 bil lion. • employee growth to nearly 6,000 members of the Pied mont family. President T. H. Davis told Pied mont's managers at the 1981 corporate meeting: “Most important of these achievements is that the people of Piedmont earned them. All were achieved without any windfall traf fic as a result of another carrier’s strike, or the grounding of anoth- on the inside • Piedmont spreads its wings over two new markets. Sto ry, page 2. • They’re number one for ’80. See why, page 3. • Lights, camera, action! Read about our celebrities, page 4. • Rome, Paris, Frankfurt, Lx)n- don, Hong Kong... places you’ve always wanted to vis it? Dream on, page 5. • Want to get your college degree? Turn to page 6 and find out how Piedmont can help. • It’s cheaper by the dozen. Why and how, page 6. • People and places, page 7. • For the record, page 8. er carrier’s aircraft. All of these achievements were earned by Pied mont’s efforts." Davis also pointed out that Pied mont’s performance was done at a time of adversity for many carri ers. Piedmont’s profitability came when most other airlines were reporting losses, and Piedmont’s employment growth has come at a time when between 15,000 and 20,000 employees of other airlines are on furlough. He pointed out a number of challenges Piedmont can expect in 1981: • we will get new, tough and efficient competitors. • fuel costs will continue to rise. • interest costs will be higher. “But challenges are not new to us," Davis said. “We must meet these challenges. I think our theme, ”81 we've only just begun,’ is indicative of what we have to look forward to this year. "We can’t rest on our laurels,” he said. As to the 1981 challenge. Execu tive Vice President W. R Howard said: “It won’t be enough to run a good airline. We must run a very good airline." Howard referred to 1980 as “a year of strong growth. Although we added just one new city to our route structure, we added addi tional service on several of our continued on page 5 Available seat miles and revenue passenger miles in billions 5.0 4.563 4,0 3.473 3.0 2.618 2.363 2.434 2.0 2.266 1.932 1.434 1.157, 1.061 0.0 1980 1979 1978 1977 1976 ASM’s RPM’s 6.0 Passengers in millions 5.707 5.479 5.0 4.580 4.0 4.168 3.860 3.0 0.0 1980 1978 1979 1977 1976 20% stock dividend declared Many Piedmont employees will be receiving a 20 percent stock dividend in addition to a regular cash dividend of 6 cents per share next month, thanks to Piedmont’s record-breaking performance in 1980. A 20 percent stock dividend on Piedmont's common stock was declared by the directors of Pied mont Aviation, Inc., at the regular quarterly meeting in January. The cash dividend will be paid on March 9 to stockholders of record on Februaiy 20. This is the 14th consecutive quarterly dividend by the Company and Piedmont’s 28th cash dividend. The stock dividend, the 5th in Piedmont’s history, is also payable to stockholders of record on February 20. In addition, the Company de clared a dividend of 59.375 cents per share on the Company’s cu mulative convertible preferred stock, payable to stockholders of record on Februaiy 27. More than 200 employees are currently taking advantage of the stock purchase plan while many others hold Piedmont (PI) stock previously purchased through the plan or on an individual basis. The stock purchase plan is available to any employee who wishes to purchase PI stock through authorized payroll deduc tions. Wachovia Bank and Trust Company manages the plan. Piedmont pays most of the charges which Wachovia makes for provid ing the service, as well as the entire brokerage fee. For more informa tion, contact Employee Benefits, mailcode A344, or extension 524, INT.