ABSTRACT

In the early nineteen-thirties, a New Zealander, Lowell Yerex, showed what could be done by a merchant adventurer with a grasp of essentials for success in air transport, and ready to study and develop a market. Some American merchant adventurers tried Central and South America, but in competition with Government-backed German and French enterprise few survived. On the continent of Europe merchant adventurers had no place. Air transport operations were there mainly in Government hands. The State exercised control, through the medium of generously subsidised monopolies. Nor is there much to record in the way of British enterprise in Africa and Asia. American business interests complained that air transport was giving undue advantage to competition; the American public was fast becoming air-minded; the organisation and financing of air transport companies was fast becoming easy. With few exceptions key men in American air transport have served a long and varied apprenticeship, starting in the early days of merchant adventurers.