OCR Text |
Show Hughes still plans Air West purchase Hughes Tool Company advised ad-vised Air .West by letter of August 4, that it intends to honor its commitments under the agreement to purchase the airline, and expects Air West to do- the same. The Hughes letter directed the airline's attention to a net worth deficiency under the terms of that agreement. The net worth deficiency at June 30, 1969 was approximately $16,000,000. The directors of Air West at a special meeting today voted unanimously to take such steps as necessary to meet the net worth requirements of the agreement in order to fulfill ful-fill its part of the contract and permit consummation of the sale. '.. i.. |