AVIATION: The Profitable Jets

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After five months of U.S. service, the jet planes are proving an airline's delight. With five Boeing 707s in daily service to Paris and six weekly to London, Pan American last week reported an average 90% of seats filled (43,400 transatlantic passengers to date) v. the usual 50% to 55% load factors at this time of year. Moreover, because the jets have stimulated all travel. Pan Am's total transatlantic business has jumped 46% in the last two months, with even bigger increases on the way. Advance bookings for the summer travel season are up 236% in economy class, up 340% in deluxe class.

The same holds true for the domestic jet operators. Using leased Pan American 707s. National Airlines has boosted its New York-Florida business impressively, with load factors of 95% southbound, 85% northbound, has already carried 35,000 passengers by jet since mid-December. American Airlines, with five 707s operating across the U.S. nonstop to Los Angeles, reported a 96.2% load factor v. the average 66%. The nine Lockheed Electra turboprops delivered so far boast average loads of nearly 80% on nights from New York to Chicago and Detroit. Together, the two jet-powered craft boosted American's February business to an alltime record of 364 million revenue passenger miles, some 8% better than last year at this time. Eastern already has 18 Electras in service, and reports loads 30% to 50% better than the average for piston-engined craft.