General Aviation and
Airline Making Money
Piedmont Aviation, Inc. has reported a net
profit of $754,641 or 34.40 per share for the
third quarter of 1971. During the same period
last year the Company recorded a loss of
$453,436.
For the first quarter of 1971 Piedmont had a
loss of $1,917,061. Even with a second quarter
profit, the nine month figures show a net loss
of $432,517. This is a significant improvement
over the 1970 nine month loss of $1,220,991.
Total gross revenues reached new records of
$24,976,333 during the third quarter and $72,-
002,920 for the first nine months of 1971
as compared to $22,690,879 and $64,270,729
during the same periods last year.
In a recent financial report President Davis
told the Company’s stockholders that revenue
^-passenger miles for the third quarter increased
to 212,980,000 from 197,945,000 last year,
^^^evenue passenger miles for the first nine
months of 1971 were 588,576,000, an increase
of A'A over the 1970 figure of 569,422,000.
The passenger load factor was 50.28% for the
third quarter as compared to 45.91% for the
same period last year. For the first nine
months of 1971 the passenger load factor was
47.49%. It was 45.28%’ for the same period in
1970.
Davis also told the stockholders that sales
and profits of the Company’s General Aviation
Operations show favorable gains over last
year. Pretax profits for the third quarter were
down to $89,134 as compared to $110,987 last
year. For the nine-month periods, however,
profits increased from $229,066 in 1970 to $408,-
407 in 1971. Greensboro-High Point Air Serv
ice, Inc., a company which was acquired by
Piedmont through an exchange of stock last
March contributed to this encouraging trend.
“The public service revenue rate for all reg
ional airlines has been open and subject to
adjustment since July 1, 1971. Payments since
that date have been received based upon the
rate in efi^ect prior to July 1. Studies and ne
gotiations for a new rate are under way and
it is expected that this will be approved by
the CAB by the end of this year. The new
rate, which we anticipate will be higher than
the present rate, will be retroactive to July 1st.
A favorable decision in this matter together
with a continuation of recent trafi'ic growth
trends should enable us to report a profit for
the year 1971.”
Industry Honors
Record Day!
More than 47,900 passengers flew the routes
of the Pacemakers during the Thanksgiving
holidays and established a new single-day
boarding record for Piedmont Airlines.
The big day was Sunday November 28 when
a total of 12,256 travellers were enplaned. This
eclipsed the old record set on the Sunday after
Thanksgiving last year when 11,191 passengers
w'ere boarded.
The new record capped off the six-day, No
vember 24-29, holiday travel period that saw
Piedmont carry 47,946 passengers.
What could a chairman
say but that the United
Fund can be fun!
Company campaign
Chairman Al Shulley
certainly seemed to
enjoy his part of
the annual drive.
Shulley is shown
here as he pins the
first contributor,
Joyce Atwood.
Joyce was the first
donor, and appropriately
enough the first
"fair sharer" as well.
With a seven per cent
increase over last year's
giving Piedmont's total
was over the goal of
$15,229.
i
pmmomm
VOL. XXII, NO. 8
SEPTEMBER OCTOBER/NOVEMBER, 1971
Objections Slow Movements on Eastern Transfer
The Civil Aeronautics Board, in October,
instituted a show cause proceeding to study the
possible transfer of two Eastern Air Lines
points in West Virginia to Piedmont.
The transfer had been requested by both
carriers. In commenting on the proposal the
Board said “grant of the requested authority
will substantially improve the quality of service
Our Mr. Watson
Piedmont’s Director of Communications Les
Watson will be retiring early next year after
nearly 25 years with the Company and almost
40 years in the aviation industry.
In recognition of the occasion the Airlines
Communications Administrative Council recent
ly passed two resolutions honoring Mr. Watson.
The first was acknowledgement of his “valuable
and dedicated service to the industry and the
council and his assistance to the chairman
and executive secretary during his term of
oflFice.” Watson was a member of the steering
committee of ALCAC during 1970-1971.
The second resolution, less all the “where
ases” and “be it therefore resolveds”, was
adopted unanimously by the council to express
its thanks and appreciation for Mr. Watson’s
many years of participation in the work of the
council. It also made Mr. Watson a life time
honorai'y member of the Air Lines Communi
cations Administrative Council. He has been a
member of the group since it was formed
in 1956.
Watson, who came to Piedmont as Superin
tendent of Communications in 1947, is a native
of Jersey City, New Jersey. He was Superin
tendent of the Western Division of Eastern
Air Lines prior to joining Piedmont. He had
been with Eastern since 1934.
Watson is a Mason and is married to the
former Joy M. Work.
and both carrier applicants will benefit finan
cially.”
The transfei- would terminate Eastern’s au
thority at Huntington and Charleston, West
Virginia. Piedmont, which already serves these
points, would be awarded a new Washington-
Charleston-Huntington-Louisville segment. The
Piedmont award would be on a subsidy in
eligible basis.
The actual transfer of this authority has
been delayed by objections to the show cause
order filed by the Jeff’erson County Air Board
(Louisville, Kentucky) and Ozark Airlines.
Ozark and the Jefferson County Air Board
objected to the actual transfer on the basis
that it would hurt the chances of Ozark to be
certified to provide non-stop competitive service
between Louisville and Washington. This is
in reference to another case pending before
the Board, the Louisville-Washington Service
Investigation.
Piedmont is attempting to overcome these
objections and move forward with the case
as rapidly as possible.
add one... To The Fleet
Shades of the good old days! We’re getting
a new airplane! It has been a long time, or so
it seems, since we’ve increased the size of our
fleet. There for awhile the fleet list changed
almost every week and certainly every month.
Now it’ll change again, need we even say
for the better! Sometime soon we’ll be round
ing out our 737’s to an even baker’s dozen. The
thirteenth one is coming from United.
We’ll re-arrange their red, white and blue
to spell Piedmont and with few other altera
tions be in business.
Present plans call for delivery of the air
craft late this year and intentions are to put
it into service by early spring.