Ed Daly

Edward Joseph Daly (November 22, 1922 – January 21, 1984) was an American businessman most notable for his ownership of World Airways which he bought in 1950 and was active in until 1982. Under his ownership, the airline was notable for humanitarian efforts that drew national attention during the Vietnam War, as well as its pioneering low fare and no-frills service.

Daly was born to Edward Michael Daly and Elizabeth Grace in Chicago Illinois on November 22, 1922. His father, a firefighter, died when he was 15 years old. Daly helped support his family by working summers as an onion topper and in college running a truck line. The truck line operated three tractors and 5 trailers when he sold it. He was a Golden Gloves boxer, developing skills that he would use in Vietnam. Daly rejected his image as a kid from the Chicago slums, though he admitted that the time after his father's death was difficult.

He attended the University of Illinois, where he majored in biochemical engineering before he was drafted in 1941 to serve in World War II. Daly said it was a good thing that he never finished his degree because,"I was the world's worst chemical engineer". Daly achieved the rank of sergeant and served in the Pacific. Other details that are mentioned about his service but not confirmed by other sources are: he was injured (how is not specified), he was a "tech" sergeant, and that he was stationed on the Marshall Islands or in Saipan and Tinian.

He was discharged from the Army in Los Angeles and worked as a bank teller for 6 months at Security First National Bank.

After deciding that banking was not for him, he worked at Scotty O’Carroll at Midway airport in Chicago, where he was in charge of bookings for all non-scheduled airlines and worked his way up to vice-president. Around this time he created National Air Freight Forwarding Inc., the first air freight forwarding company in the world. World Airways at the time was transporting mainly military cargo.

After a few years experience he left the charter company with a desire to own something of his own and in 1950 at 26, he purchased a fledgling airline, World Airways. His handling of this investment made him rich and famous. He purchased the airline for $50,000 from the Berkovich Steamship Company. The source of the money is disputed. One story (rejected by Daly) claims that he won the $50,000 in a poker match. However, Daly's favorite game was Gin rummy. Another more probable narrative is that he borrowed the money from a small truck company. In the end he paid little for an airline that would one day turn millions of dollars in profit. To illustrate how little he paid for this airline Daly later bought an old beat up military surplus plane for $75,000 which he then sold for $175,000. The airline's asset itself was little more than the rights to fly commercial aircraft, but Daly carved out a name for himself in commercial aviation.

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