In the 1950s, Boeing made a $16 million bet.
As Boeing manufactured newer, faster jet bombers for the Air Force, mid-air refueling aircraft lagged behind. The standard refueling aircraft at the time, the propeller-powered KC-97, flew much slower than the jet-powered bombers it was meant to refuel. To Boeing president William Allen, it seemed like only a matter of time before a jet tanker became necessary.
The Air Force hadn’t requested a jet-powered refueling aircraft, but Allen was sure that they’d buy it once they saw it fly. His $16 million bet eventually led to the creation of the 707 jetliner and the Air Force’s KC-135 tanker.
A ‘Dash 80’ demonstration
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Development began in 1952. To keep the project under wraps and ensure they were the first to market, Boeing named the prototype the 367-80, nicknamed “Dash 80,” to disguise it as a piston-powered aircraft from Boeing’s 300 series.
Sweeping the wings back 35 degrees resulted in a significant reduction in drag, allowing the plane to fly faster and carry heavier loads.
Boeing demonstrated the Dash 80 for the first time on August 6, 1955, when airline executives were gathered in Seattle for the Gold Cup hydroplane races. Pilot Alvin M. “Tex” Johnston stunned onlookers — and Allen himself — when he performed two surprise 360-degree barrel rolls.
“Now, by this time, Bill Allen is in medical distress because he has just seen $16 million of his money being cowboyed at a low level over Lake Washington,” Richard Ledbetter, a docent at the National Air and Space Museum’s Udvar-Hazy Center, said of the demonstration.
Afterward, Allen called Johnston at Boeing Field, where he’d landed the plane, demanding an explanation.
“He said, ‘Boss, I was just trying to help you sell some airplanes,'” Ledbetter said.
Boeing’s big bet paid off
U.S. Department of War photo
The flashy demonstration worked. Pan-Am president Juan Trippe became the first customer after Boeing widened the Dash 80’s design to seat more passengers, creating the Boeing 707. The jetliner shaved hours off cross-country and transatlantic flight times, revolutionizing air travel. Boeing manufactured over 1,000 707s before they were largely retired in the 1980s.
Boeing also worked with the Air Force to develop the Dash 80 prototype into the KC-135, a military refueling aircraft that entered service in 1956 and remains in use today. KC-135 Stratotankers were deployed to Israel as part of Operation Epic Fury, in which the US and Israel carried out joint strikes on Iranian missile launch sites and military command centers.
The Dash 80, the one and only Boeing 367-80 ever built, now resides at the National Air and Space Museum’s Steven F. Udvar-Hazy Center.
