AMERICAN AIR LINES.
PROPOSAL FOR SUBSIDISING.
(United Press .Association —Copyright.)
WASHINGTON, July 26. Mr Roosevelt has ordered the United States maritime commission to study the subsidising of American airlines operating to foreign countries. It is understood a subsidy is contemplated on a similar basis to the shipping subsidy recently approved by the commission. r 1 At the beginning of the month. ioL American ships began operating under a new shipping subsidy scheme for a six months’ experimental period. Thet Government will pay to the owners the difference in operating costs between American and foreign lines. The cost of these subsidies, it was estimated would be 4,745,000 dollars for six months, which is about live-eighths of what the mail contracts under the old system would have been for a similar period. The subsidies must be repaid to the Government from all company profits exceeding 10 per cent, of the invested capital.
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Ashburton Guardian, Volume 57, Issue 245, 28 July 1937, Page 6
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150AMERICAN AIR LINES. Ashburton Guardian, Volume 57, Issue 245, 28 July 1937, Page 6
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