AAXICO Airlines

In its later years, AAXICO was noted for its consistent profitability, financial strength and its near total focus on flying for the military.

A related company of the same name, owned by the family that controlled AAXICO Airlines, remained in the aircraft parts business until it was sold in 2012.

The company was founded in the fall of 1945 as a partnership in Miami, Florida by Charles A. Carroll, who started with $14,000, one airplane, and 14 employees.

[5] Thus from October 1946 AAXICO shifted to air freight, flying cargo flights to Central and South America and operating under contract to the US military.

The CAB noted AAXICO had never used its authority to fly to nine other cities in Ohio, Virginia, Kentucky, Michigan, Illinois, Indianapolis and the District of Columbia, and that it had only served Philadelphia and Birmingham, AL on a flag stop basis.

[10] AAXICO continued with charter business, but in June 1962, the CAB made final a case in which it considered scheduled cargo operator certificates for renewal, and in view of AAXICO's suspension of scheduled service, the CAB declined to renew its certificate.

[13] This, among other things, allowed airlines to apply for provisional supplemental certificates based on certain criteria, and AAXICO qualified.

Since 1957, other than the year it did not operate, the CAB noted AAXICO made consistent profits, had "strong cash and working capital position" with "little to no long-term debt."

However, the CAB did direct the new merged airline to wait on integrating the pilot corps until the NMB process ended.

This was retained by the Korth family and its existence became an issue with the CAB, because it had a legislative mandate to ensure any interlocking arrangement between airlines and any other phase of aviation was in the public interest.

Howard Korth sold off his stake to other family members, but Saturn was still restricted from doing more than $100,000 in yearly business with AAXICO Sales without CAB approval.

August 1959:[32] At the time the CAB reviewed the merger, AAXICO had the following fleet:[24] In addition, it also owned another 11 C-46s on lease to Zantop Air Transport.