But they said it would provide much needed capital to tide the company over as it struggled to regain profitability.
The line, however, did not regain profitability and was closed on 31 March 1966.
More recently, sales have risen and the company has regained profitability.
Despite losing £80,000 during its first year of operation, the reconstituted airline gradually regained profitability.
Ford's turnaround plan calls for more emphasis on retail sales in a bid to regain profitability even at the expense of some market share.
Apple regained profitability and then set out to create even more innovative products.
But Apple gave computer industry analysts and investors little indication of how it would alter its business to regain profitability.
The aerospace industry, now a victim of dwindling military budgets, is never expected to regain its former glory and profitability.
Despite re-emerging from bankruptcty in 2002, Look never regained profitability and continued losing millions of dollars for the years to come.
It regained minimal profitability until 1986, when its earnings markedly improved.