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.