2 volumes. 137; 138-188 leaves (with remaining leaves in 2nd volume blank). Ink holograph on rectos of lined paper; occasional news-clippings glued to versos. 12¾x7¾, cloth-backed boards.

Important record in diary form, A.H. Tiltman's account of the founding and first five years of one of the significant British airplane manufacturers during the decade leading up to World War II, and during the war itself. Tiltman (1891-1975, an early aeronautical engineer who joined Geoffrey De Havilland's Airco Co. in 1916) and Nevil Shute Norway (the novelist Nevil Shute – trained as an aeronautical engineer as well as a pilot, who began his engineering career with de Havilland Aircraft Company after WWI) formed Airspeed Ltd., after working together in designing the R100 airship for the Airship Guarantee Co., as prospects for further airship production stagnated. The diary begins with the statement that it was to be “…observations concerning the progress of the company that Norway and I are at the moment forming. This company will probably be called ‘Airspeed Ltd.’ …In June of 1930, we reviewed the light aeroplane market in England, and between us got out a G.A. of a machine which we considered represented somewhere near the ideal general purpose machine (two, or occasionally three seater, side-by-side) which seemed to fill in a gap in the range of types available…” Tiltman relates efforts, at first unsuccessful, to gain financing for the company, the appointment of board members, creation of a prospectus, meetings with backers, etc. He is very detailed in the record, describing interactions with shareholders, board members, patent officials, bankers, even the printers of the prospectus. Salaries for Tiltman and Norway were discussed (700 pounds per year plus 10% of the profits). It was decided to first make gliders, to procure a stream of revenue, and then to concentrate on the airplanes that were more profitable but required greater capital expenditure. (This expertise was put to good use during World War II: almost 3,800 AS51 and AS58 Horsa military gliders were built by Airspeed for the Royal Air Force and its allies. Many of these made one-way journeys into occupied France as part of the D-Day landings). There are a number of newspaper clippings relating to the founding and progress of the company pasted onto the backs of the leaves, with dates corresponding to the diary entries. The extremely detailed diary entries, along with the accompanying news-clippings on the aircraft manufacturer, airplanes and flights, provides a superb record of the founding and early years of one of the important British airplane companies of the 1930s and 1940s. Both the successes and challenges are covered, as on July 4th, 1932: “The crash of G-A BSJ was a bad show, and seems to have been purely a question of an error of judgment on the part of the pilot. Fielding was flying it, and seems to have taken off down wind: the wind which was light seems to have freshened and suddenly increased. He took off over a canvas screen, touched it with his wheels of tail skid, and then more or less stalled on the other side and ended up in a fifteen foot ditch…” He then relates the ensuing problems with the insurance company – they felt $1500 was adequate for repair, whereas $2500 would actually be needed.