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6aIUi»jtfffHfctlliC Sun.,April 29,1973 2-WJPort of Oakland announced it had won the approval of the U.S. Economic Development Administration for four grants of funds totaling $15 million, the bulk of which was pointed toward the construction of the big new hangar which will be dedicated here next week. But evert then, in 1966, .Daly had christened Hangar Six the “World Air Center” and was taking on contract maintenance for other airlines.In May 1966, World won a $5 million military airlift contract for 98 round trips from here to the Philippines, Okinawa and Saigon, carrying passengers. And World immediately bought its sixth and seventh 797 jets. In June 1966 the Military Airlift Command awarded World $23 million in contracts for 1966-67, lor 327 jet round trips covering 898 million miles. That was double the $12.8. million MAC contracts World fulfilled in 1965-66.And in July 1966, World announced it was ordering six Boeing 727QC medium range jetliners for §37 million. World said its net earnings inthe first half of JB66 were $4.1%million, up from $3.1 million in the first hall of 1965. Stoek value was up from 64 cents to 83.,The first indication, of the coming of the 747 was in December 1966, when it said it intended to spend some $90 million at the Boeing Company for three of the forthcoming ~“jumbo” jets, and an option on the fourth airplane, Daly was at that time looking at another new CAB order approving Inclusive Tour Charters in the commercial market and he said he would lake two more 707s from Boeing, too.World’s fortunes at the end of 1966 showed an 82 per cent increase in commercial reve-‘nues, but the big financial story broke in June 1967 when its stock split two-for-pne on five million shares. World showed a 93 per cent increase on net earnings in the five months through May 31', 1967, from $3,243,000 to $6,248,000.The real stunner came in May 1968 when Daly said he had purchased First WesternBank and Tfust Company,♦Continued on Page 3-W
Newspaper Details
Oakland Tribune
Oakland, California, US
Sun, Apr 29, 1973
Page 291
Full Page
Clipped by
Robert B.
CA, USA 22 Aug 2020
Other Publications Near Oakland, California
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