Vol. XXVlll, No. 1
We have two new non-stop routes
April, 1977 was an exceptionally good month
for route awards. The Civil Aeronautics Board
granted Piedmont the authority to provide non
stop service in two diff erent markets.
The first one came early in the month when
the Board finalized its show-cause order up
grading Piedmont’s authority between Tri-
Cities (Bristol Johnson City Kingsport), Ten
nessee and New York from one-stop to non
stop. Piedmont will inaugurate this service with
the June 14, 1977 schedule change.
The second long-awaited decision, on Rich
mond — New York, was issued by the CAB
in mid-April. Piedmont was a w a r d e d the
Stockholders elect Haverty
authority to provide non-stop service between
Richmond and New York Newark, effective
June 7, 1977.
Piedmont initially requested this authority
in 1972 after reaching agreement with National
Airlines to ti-ansfer that company’s unused
authority in the market.
In announcing this award the CAB .said
giving Piedmont the authority would assure
true competition between the points. Eastern
has been the only cai'rier pi-oviding Richmond-
New York service.
Piedmont will also inaugurate its Richmond-
New York non-stop Hights on June 14. The
Directors declare dividend
At their recent regular quarterly meeting.
Piedmont’s directors declai’ed a cash dividend
of 10 cents per share on the Company’s common
k Payable June 3, 1977 to stockholders of
M'ecord on May 17, 1977, this is the 14th cash
dividend to be paid by the Company. Piedmont’s
first cash dividend was paid in 1964. The direc
tors consider payments of dividends on a semi
directors m e e t-
ing, the stock
holders of Pied
Inc. held t h e i i’
at the Company’s
general off'ice in
ers elected a new director to the Company’s
Board. He is Rawson Haverty, president of
Haverty Furniture Companies, Inc. Havei’ty
Furniture is headquartered in Atlanta and has
stores in ten southern states from Texas to
North Carolina and Virginia. A graduate of the
University of Georgia, Haverty is also on the
board of directors of the P'ulton National Bank
of Atlanta, Colonial Stores, Inc., Southwestern
Life Corp. and the American Credit Corp. He
lives in Atlanta.
The stockholders also re-elected the previous
directors of the Company’s Board.
President T. H. Davis told the stockholders,
“Last year, 1976, was the second best in our
history. Only 1974 was better. Our earnings in
1976 amounted to $1.76 per share, representing
a 10.11 per cent return on total investment.
The major contribution to the vastly improved
earnings was the income from increased pas
senger volume. We are also pleased that 1977
seems to be shaping up as another good year
for Piedmont. So far, our traffic is up about
six per cent over the first quarter of 1976.”
Company will offer three round-ti’ip Hights a
day between the cities. Flight 40 is a morning
departure from Richmond to LaGuardia. Flight
44 offers mid-day service also via [^a(niar(lia,
while Flight 48 is an evening trip to Newark.
For return service, Flight 91 dejiarts Newark
in the morning. Flight 65 leaves LaGuai'dia in
mid-afternoon and Flight 59 departs Newai'k in
the evening, h'lights 48 and 65 will also provide
non-stop service between Richmond and Tri-
For several years, Piedmont has been liich-
mond’s largest aii'line in terms of number of
ffight departures. Of all scheduled Hights from
Byi'd Field, 62 pei- cent ai-e Piedmont Hights.
Robert F. Wigmore has been named to the
newly created position of staff' vice pi'esident —
I’evenue and route planning. He was most
I’ecently head of a consulting fii-m in Washing
ton, I). C. Prior to that, he was an assistant
vice president for Allegheny where his responsi
bilities included I'oute development, j)lanning
and market i-esearch. Wigmore also woi'ked foi'
Trans World, Bonanza and Eastern aii'lines.
A gi'aduate of
New York Uni
is mai’i'ied and
has thi’ee sons.
He assumed his
new duties with
Piedmont on Maj'
2, 1977, repo)-ting
to Executive Vice
President W. M.