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136 
THC ACQUIRES INTEREST IN SKYWAYS
Page 47
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AN AGREEMENT has been reached by which the Transport Holding Company will acquire a 50 per cent interest in Skyways Coach Air Ltd. with an option to increase this proportion. The balance of the shares will continue to be held by Eric Rylands Ltd., the major shareholders to date. The board will be strengthened by the inclusion of representatives of the THC; Mr. Eric Rylands, founder of the company, will 'continue as managing director.
The agreement also provides for the injection of additional working capital by means of a debenture, and this will boost the expansion of the company's services, which are playing an increasing part in inclusive tour holidays. The company operates low price coach-air-coach services between this country and the Continent and is based on Lympne Airport, Hythe, Kent. Four aircraft are owned by the company but coaches for the services' linking aircraft are hired from the East Kent Road Car Co. Ltd.