You will receive the exact certificate pictured
Over 35 years old
Common stock
April 28, 1982
Issued, uncanceled
Security-Columbian/United States Bank Note Company
Machine printed signatures
12" (w) by 8" (h)
NA
Historical Context
McGee Airways, a precursor to Alaska Airlines, was established by Linious "Mac" McGee and flew its first service between Anchorage and Bristol Bay. Service was unscheduled, with flights taking off when passengers, a load of cargo, or mail needed passage.
The airline struggled financially during the Great Depression. Too many airlines were in Anchorage at the time, with not enough demand to support them. As a result, the airline underwent multiple mergers. The first of these mergers was in 1934, when McGee sold his namesake airline for US$50,000 (equivalent to $1,138,806 in 2023) to Star Air Service, an airline also located in Anchorage. This allowed McGee to enter the mining industry. With a fleet of 15 aircraft, Star Air Service was a dominant airline in Alaska, but the airline continued to struggle financially because of high maintenance costs for its wood-and-fabric planes.
In 1937, McGee came back to the airline and opened a liquor store, and the airline began flying liquor to remote Alaskan communities. That year, Star Air Service purchased Alaska Interior Airlines and was incorporated as Star Air Lines. Star was again sold later that year to a group of miners.
In 1938, federal regulation began when Congress created the Civil Aeronautics Board (CAB), which awarded the airline most of the routes that it wanted in Alaska, but the coveted route between Seattle and Fairbanks was awarded to Pan American Airways.
In 1941, Star Air Service was purchased by Raymond Marshall, a businessman from New York City. In 1942, the airline purchased three other airlines in Alaska, including Lavery Air Service, Mirow Air Service, and Pollack Flying Service. They also purchased a hangar at the Anchorage airport. In 1942, the airline's name was changed to Alaska Star Airlines.
When the United States entered World War II in December 1941, Alaska Airlines faced a shortage of pilots. During the war, the airline lacked funds and equipment, and pilots were often forced to buy fuel for their planes out of their own pockets. The company, which was frequently subjected to lawsuits, also went through many different presidents during this time. In 1943, Alaska Airlines purchased the Lockheed Model 18 Lodestar, its first multi-engine aircraft. That same year, the company's stock was traded for the first time on the American Stock Exchange.
The name Alaska Airlines was adopted on May 2, 1944, having narrowly beaten a competitor who was applying for the name. In the 1940s, Alaska's headquarters were in Anchorage.
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