i
THE PiEomanim
iicago
Pre-Inaugural Pix
See Page Three
VOL. XI, NO. 7
WE’VE GOT CHICAGO IN OUR CORNER!
NOVEMBER, 1969
Chicago Pre-Inaugural Is "Best Ever"
m
Third Quarter
Report To
Stockholders
The total consolidated revenues
of $13,673,078 for the third quarter
of 1969 were down 15% as com
pared to same period in 1968. The
reduction was primarily caused by
the 30-day strike during our peak
traffic season called by the Air
Line Pilots Association. Expenses
and operating costs, however, in
creased 2% to $16,341,800. As a
result, Piedmont suffered a net
loss during the period of $1,357,169,
after an income tax credit of $1,-
311,553, as compared to a profit of
$152,902 during the third quarter
of 1968.
For the first nine-months period
revenues were up 12% to $48,496,-
777, setting a new Company record
in spite of the strike. Expenses
and operating costs were up even
more, however — 20% to $52,381,-
238. Thus, the year-to-date loss
through September 30th was $1,-
902,540, after income tax credits
$1,981,921.
*Sales and other income from
General Aviation operations in
creased from $8,012,920 in the first
nine months of 1968 to $8,389,071 in
1969. Cost of sales and expenses,
however, followed the trend of
most industries and increased at
a faster rate due to the current
rapid inflationary trend. Accord
ingly, pre-tax earnings from these
operations are down from $610,854
to $428,598.
The CAB has approved a general
passenger fare increase which
went into effect October 1st. While
there has not as yet been any in
dication of any reduction in the
rapid rate of inflationary wage and
cost increases, the Company is
IT WAS A 3-D line-up of dignitaries on hand for Piedmont's pre
inaugural ceremonies at Chicago's Midway Airport. Looking on as
Mayor Richard J. Daley of Chicago, at right, receives the World's
Largest Key Chain of keys to the Piedmont cities, was Chicago's
Commissioner of Aviation William E. Downes, at left. Presenting the
keys on behalf of all the mayors of cities with initial Piedmont service
to and from the Capital of the Midwest is President T. H. Davis. Further
pictures of the day's events are on page three.
Is Highlighted By
A^ayor Daley's Welcome
CHICAGO — Both the city of Chicago and Piedmont have high
hopes for Piedmont’s new service into Midway Airport which began
December 1.
Thanksgiving Travelers Set
Pacemaker Boarding Records
We haven’t checked with any
national turkey growing associa
tions, but if our loads were any
indication this Thanksgiving must
have set some kind of record for
consumption of the traditional
birds.
Whether or not a record amount
of turkey was eaten. Piedmont
carried a record number of holiday
travelers to and from Thanksgiving
gathering points across the system.
On Wednesday, November 26th, a
total of 9,610 passengers flew on
the Pacemakers. This surpassed
by 222 the previous all time high
day set December 1 last year.
But the record set the day before
Thanksgiving didn’t last long.
Three days to be exact. On Novem
ber 30th, Sunday, a whopping total
of 10,571 passengers flew on Pied
mont’s flights. The load factor for
the 30th was 73.50, with the jets
averaging 77.10 per cent!
It’s great to be back in the
record breaking business!
At the pre-inaugural ceremonies
on November 25th Mayor Richard
J. Daley of Chicago was on hand
at Midway to welcome President
Davis and about 190 southeastern-
ers who flew up on three special
flights for the occasion.
During the festivities the Mayor-
recalled that Midway was once the
world’s busiest airport. Then
O’Hare International Airport was
built with longer runways, siphon
ing much of the traffic from Mid
way.
But the city is committed to
building Midway back as a center
of air travel, Daley said, and
Piedmont’s inauguration of service
will play a major role in that
effort.
Davis told the mayor that Pied
mont — with 10 flights in and out
of Midway daily — will start off as
the fourth busiest of the 10 airlines
serving the airport.
Later at a downtown luncheon
at which he was host to the 200
visiting southerners and 100
Chicago guests, Davis recalled that
Piedmont had been interested in
serving Chicago since June of
1955, when the company first filed
an application with the Civil Aero
nautics Board.
At that time, he said, he used to
look out at “the sea of planes” on
the field at Midway and wonder
if there would ever be room for
Piedmont.
It was a long battle, with the
inaugural of service coming exact
ly two years from the date that
Piedmont filed its last application
for service.
Piedmont will provide non-stop
service to Chicago from four cities
in its system — Richmond and
Roanoke, Va., and Huntington and
Charleston, W. Va.
On hand at the airport to wel
come the visitors in addition to
Mayor Daley were several high-
ranking Chicago police officials,
representatives of labor and busi
ness organizations, the alderman
from the 23rd ward, in which the
airport is located, and a brass
band from St. Rita’s High School.
Former Illinois Gov. William
Straffon was also in the crowd of
several hundred and was recog
nized.
The first day of the service to
Chicago had “encouraging loads”
as reported by the stations. Com
pany officials said that the loads
are expected to pick up as people
become more familiar with the
service.
hopeful that this fare increase,
together with even more rigid
economy measures, will make pos
sible a return to profitable opera
tion.
Traffic statistics for the third
quarter showed that revenue miles
flown were down to 14,699,722 as
compared to 15,773,907 for the first
nine months of last year.
The passenger load factor was
down nearly five points, from 52.88
to 47.31 per cent. Revenue passen
ger miles were up slightly as were
express and freight ton miles.
from Baltimore and Vernon Braw-
er from Memphis. Five more peo
ple will be added to bring the
initial station staff for Midway to
twelve.
Leonard Aiartin Named Manager
For New Chicago XSAidway Station
Former Station Manager for the
Company at Dulles International
Airport Leonard Martin has been
named Manager for Chicago.
A native of Bassett, Virginia,
Martin is a graduate of the Weaver
Airline School. He joined Piedmont
as an agent in Norfolk in 1955. He
later worked at Charlottesville and
went to Atlanta as a member of
the original station complement
for the opening there in 1962. In
1966 he was promoted to Assistant
Manager for the Atlanta station
and went to Dulles as Station
Manager in 1968.
Mrs. Martin is the former
Patricia Jane Matterson of Eng
lish, Indiana. They live at 15248
in Oak Forest, Illinois.
Six other Piedmont employees
joined Martin in opening the sta
tion at Midway. They are John
Reynolds from Washington Na
tional, who is Customer Service
Manager; Jayne Henderson from
Atlanta; Steve Coleman from
Washington National; Cindy Tur- Leonard Martin
turice from Norfolk; Bob Rogers Station Manager — Chicago
Morton Elected
Officer of ATA
Finance Group
Piedmont’s Vice President —
Finance and Secretary T. W. Mor
ton has been elected first vice
president of the Air Transport As
sociation’s Finance and Accounting
Conference.
Mr. Morton was second vice
president of the group last year.
The new president is Robert J.
Phillips who is vice president and
comptroller of Northwest Airlines.
The newly elected second vice
president is Donald W. Thompson,
comptroller for Pan Am.
The Conference is the industry
wide vehicle for the continuing
modernization of finance and ac
counting techniques. Dr. George
W. James, ATA’s vice president
of economics and finance, said the
group’s current projects range
from the development of improved
methods of financial analysis to
finding new applications for com
puterization in financial record
keeping.
The Air Transport Association is
the trade and service organization
representing virtually all of the
U. S. scheduled airlines. The ATA
was organized in 1936 to serve the
public, the airlines and the govern
ment in activities ranging from
improving safety to planning the
airlines’ role in national defense.
TO MID
RICHARD J. D
MAYOR
PI Employee Stock
Purchase Progress
To help you keep up with the
amount you pay for Piedmont
stock every month if you’re buy
ing it through payroll deduction
the Piedmonitor publishes this
periodic report of the number of
shares purchased, average price
per share and total investment in
the previous month.
FOR OCTOBER
Amount Invested $4,557.00
Number of Full
Shares Purchased 396
Average Price Paid
Per Share $ 11.50