| Deal Description | Transcontinental & Western Air, Inc., added the net proceeds from this transaction to its general funds. The company applied such funds to the purchase of thirteen Douglas transport airplanes with spare engines and accessories, including Sperry Automatic Pilots. The company also applied the funds to the purchase of replacement equipment and material, including propeller blades, hubs, and equipment to prevent the formation of ice on airplanes and to the redecoration of the interiors of transport planes, as well as the purchase of ground and aircraft radio communication equipment for instrument landing and an airplane for flying instruction. Any balance of the proceeds was applied to other general corporate purposes. |
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