Qantas Empire Airways Modernization Project
|Qantas Airways Jet Liner, 1959 |
The loan (0155) from the World Bank for the Qantas Empire Airways Modernization Project amounted to $9,230,000 and was signed on November 15, 1956. At that time Qantas was undertaking large expenditure in order to cope with traffic growth, maintain its competitive position, and improve its earning power.
The project was aimed at assisting Qantas Airways in carrying out its re-equipment and expansion program. The major components of the project were equipping a fleet with most of the propeller craft replaced on the main routes by faster, larger jets operating at lower unit costs and providing essential ground facilities for the new craft and the enlarged fleet.
Air India Jet Project
One year later, another loan (0161) financing modernization of the air industry was signed on March 5, 1957 for the Air India Jet Project. This loan was provided to Air India, the Indian-flag carrier on world routes. Air India carried about two thirds of the passenger traffic between India and overseas, and had a flight network of 22,100 route miles. However, Air India needed more aircraft to cope with growing traffic, and to maintain its business share on international routes.
The project included the purchase of three jets powered by 12 original engines; radio, galley, and other aircraft auxiliaries; 9 spare engines; other initial spares and stores; some overhaul facilities, a test cell and other special equipment; and a flight simulator. Air India had sufficient equipment by 1960/61 for flying 120 million capacity ton miles a year compared with 42 million actually flown earlier.
|Air India International VT-JN Boeing 707, 1960|| ||Signing of the loan agreement for Loan 0161 to Air India on March 5, 1957. |
Pages from World Bank History: Into the Jet Age
Air India Jet Project - Staff Appraisal Report, 1957
Previously Featured Documents/Photos
This feature is produced by the World Bank Group Archives to highlight the World Bank's contributions to development.