Flying High: How Leasing Fueled The Takeoff Of The Airline Industry

Back in 1967, Allegheny Airlines was a small business with a big idea — connect dozens of American cities with regular flights.
But to do that, Allegheny needed wings. It bought regional carriers like Indiana’s Lake Central airlines and New York’s Mohawk Airlines to provide coverage east of the Mississippi River and in parts of Canada. But it still wasn’t enough. The problem: Planes are expensive and Allegheny couldn’t afford to buy the new aircraft it needed.