Cause of death Emphysema Died 30 May 2008 | Nationality American | |
Full Name Milton G. Koult, II Alma mater Central Washington University | ||
Milton 'Milt' G. Koult II was an American entrepreneur, who most notably founded Horizon Air, a Seattle based regional airline. He also founded Thousand Trails, a chain of private membership campgrounds. He died on May 30, 2008 due to complications from emphysema.
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Early life and education
Koult, born in 1927 in India to Christian missionaries, relocated to the United States in 1940. He lived in Missouri and Philadelphia, Pennsylvania and was voted "Least likely to succeed" by his high school class. Due to absentia and failing grades, Koult enlisted in the U.S. Navy before graduating from high school. After serving in the Navy for 18 months, he returned home, enrolling at Central Washington University, then called Central Washington College of Education. He graduated from Central Washington College of Education with a degree in Economics in 1951.
The Boeing Company
Immediately after college graduation, Koult began janitorial work at The Boeing Company. However, shortly after beginning a career as a janitor, Koult was promoted to a corporate facilities planning and layout position, eventually becoming a business planning manager for the 737 aircraft program. While at Boeing, he bought and sold real estate to supplement his income.
Thousand Trails
In 1972, after purchasing a 640-acre real estate investment, Koult founded Thousand Trails, the first private, member-only RV campground chain. Thousand Trails' success led Koult to resign from Boeing, and focus solely on other business ventures, namely Thousand Trails. Later, in 1981, Koult sold his ownership in Thousand Trails for $40 million. Today, Thousand Trails owns over 80 private campgrounds in the Pacific Northwest.
Horizon Air
In 1981, the same year that he sold Thousand Trails, Koult created Horizon Air. The airline, one of the first regional airlines in the United States, began service on September 1, 1981 from Yakima to Seattle using two Fairchild F27 aircraft. The airline began operation utilizing two aircraft and 36 employees, and went public three years after commencing operations. In 1987, Horizon Air, the fifth largest regional airline with service to over 30 cities, was purchased by Alaska Air Group for over $68 million.