Rolls-Royce Bankruptcy Endangered Lockheed's TriStar

In April 1972, Lockheed delivered the L-1011 TriStar, the most technologically advanced commercial jet of its era, to Eastern Airlines. On May 25, its automatic flight-control system flew from the takeoff roll in Palmdale, California, to landing at Dulles Airport without a pilot touching the controls. Developing its RB211 engine drove Rolls-Royce into bankruptcy in 1971 and pushed Lockheed close to collapse, prompting a British rescue and a $250 million U.S. loan guarantee. Lockheed ultimately built only 250 TriStars before leaving the commercial passenger-aircraft business.

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