The Aviation Corporation stock certificate 1940's
Great vignette of an eagle on top of a map of the US over an American shield. Issued and cancelled. Dated in the 1940's.
Investors Sherman Fairchild provided capital to prevent a takeover of CAM-24 operator Embry-Riddle Company by Clement Melville Keys who planned on buying Curtiss aircraft rather than Fairchild's. With capital from Fairchild, George Hann, the Lehman Brothers, and W.A. Harriman, the Aviation Corporation was formed on March 2, 1929 as a holding company tasked with acquiring small airlines. By the end of 1929, it had acquired interests in over 90 aviation-related companies. In January 1930, the board broke off the airlines into Colonial and Universal Air Lines. Universal Air Lines name was changed to American Airways, the predecessor of American Airlines.
The company was required to divest American Airlines in 1934 due to new rules for air mail contracts. The Aviation Corporation ranked 32nd among United States corporations in the value of World War II production contracts. The Aviation Corporation later changed its name to Avco Manufacturing Corporation, and then, in 1959, to Avco Corporation. In 1984 Avco was purchased by Textron.
Avco's affiliated company, Avco Financial Services, was spun off to Associates First Capital in 1998, which itself was acquired by Citigroup in 2000.
Early companies bought or merged by Avco
Aviation Corporation formed March 29, 1929
Southern Air Transport (Texas Air Transport, Texas Flying Service, St. Tammany-Gulf Coast Airway)
Colonial Air Lines May 1929
Colonial Western May 1929
Canadian Colonial Airways May 1929
Embry-Riddle Aviation Corporation Summer 1929
Interstate Airlines Summer 1929
The Superplane Company
Universal Air Line System Terminal Company
Midplane Sales and Transit Company
Northern Airplane Company
Air Transportation, Inc.
Robertson Flying School Inc.
Egyptian Airways Inc. (Marion Illinois)
Universal Aviation Corporation – bought by Avco in 1930
Central Airlines - 1928
Paul R. Braniff Inc., Northern Air Lines (merger)
Robertson Aircraft Corporation- (UAC merged in Nov 1928)
Universal Air Lines (merger)
Continental Air Lines
Universal Aviation Schools
Roosevelt Field, New York
Southwest Air Fast Express June 1931