Braniff Boeing 727 and BAC One-11 at Dallas DAL LTV Electrosystems Promotional Film 1968

On November 17, 1967, the Civil Aeronautics Board approved the acquisition of Braniff Airways, Inc., d/b/a Braniff International by Dallas, Texas-based conglomerate Ling Temco Vought. LTV would purchase Braniff's current parent company, Greatamerica Corporation, who purchased the airline on July 8, 1964. The purchase of Braniff International also included the carrier's sister company, National Car Rental in addition to controlling interest in Greatamerca.
The original LTV purchase plan was announced a few months earlier on August 4, 1967. LTV would make an offer to purchase all of the the shares of Greatamerica Corporation, which received unanimous approval from the board's of both companies. The offer was submitted to the Civil Aeronautics Board shortly thereafter, because the purchase involved controlling interest in Braniff Airways, Inc. The purchase of an air carrier required that a hearing be conducted by the Civil Aeronautics Board so that the required approvals could be obtained, which would allow the sale to commence.
The CAB rendered its decision on October 20, 1967, which mandated certain stipulations that were mainly designed to prevent LTV from using Braniff as a vehicle to promulgate its aerospace business. LTV could not transact more than $100,000 USD in air travel business with Braniff unless specifically approved by the CAB prior to the transaction. LTV could not market a new aircraft, if it were to build or sell one, to Braniff, again without prior CAB approval. And finally, the CAB retained its ability to reexamine the purchase and make appropriate changes to the agreement as might become necessary as the companies business environment might change.
Braniff Airways, Incorporated, Copyright, Text only
Ling Temco Vought Corporation, Copyright, Video only