Commenced operations 1950 Parent company Employee owned Founded 1950 | Operating bases Headquarters Indianapolis Ceased operations 1968 | |
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Fleet size Douglas DC-3, Convair 340, Convair 580, Beechcraft Bonanza and Nord 262. | ||
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Lake Central Airlines was an airline that served points in the midwestern United States from 1950 to 1968, when it merged into Allegheny Airlines.
Contents
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History
The airline was founded as Roscoe Turner Airlines; it was based at Weir Cook Airport (now Indianapolis International Airport) in Indianapolis, IN. Lake Central's network in the 1950s extended from Chicago to Pittsburgh; in August 1953 it scheduled flights to 21 airports and in May 1968 to 39. It used the Douglas DC-3, Convair 340, Convair 580, Beechcraft Bonanza and the Nord 262.
Like other Local Service airlines, Lake Central was subsidized; in 1962, its operating "revenues" of $10.8 million included $4.2 million "pub. serv. rev."
In February 1955, Lake Central Airlines became the first employee-owned scheduled airline in the history of the air transport industry. 162 employees (65% of the total) bought 97.5% of the outstanding stock, 25% outright and the rest financed over 24 months.