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In February 1940, Delta Employees Credit Union was formed in Atlanta, Georgia, by eight Delta Air Lines employees, each with a stake of $45 in share capital. On March 8, 1940, Delta Employees Credit Union received a charter entitling it to 20 years of operation. One month later, the first board of directors was composed.
It is considered by Delta employees [who?] to be the turning point in terms of labor relations, as Mr. Parker's offer to buy Delta resulted in a unified workforce in opposition to the takeover bid that according to Delta employees eliminated divisional friction and, most important, festered animosity among ground employees and Delta's pilots ...
A TCA Lockheed Model 14 Super Electra at Malton Airport, 1939. Air Canada's predecessor, Trans-Canada Air Lines (TCA), was created by federal legislation as a subsidiary of Canadian National Railway (CNR) on 11 April 1937.
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In 1974, the Formula One Constructors' Association (FOCA) was founded in order to increase commercial organisation of Formula One for the benefit of the racing teams. In 1978, Bernie Ecclestone became the executive of FOCA, and fought the Fédération Internationale du Sport Automobile (FISA) for control of the commercial rights of F1.
In 1980, airline industry entrepreneur Frank Lorenzo, through his holding company Texas Air Corporation, formed startup, non-union airline New York Air.Operations commenced on December 19, 1980, with hourly shuttle service between New York LaGuardia, Washington National, and Boston Logan airports in direct competition with the long-established, successful Eastern Air Lines Shuttle.