Lockheed Vega model. The holder of numerous world records, this airplane came from humble beginnings. First becoming keenly interested in aviation during 1910, the brothers Allan and Malcolm Loughead (pronounced Lockheed) founded, in early 1916, the first company to bear their name, Loughead Aircraft Manufacturing Company at Santa Barbara, California. This organization ran into financial difficulties and was closed in 1920 or 1921, and it was not until late 1926 or early 1927 that there was formed a new company, the Lockheed Aircraft Company. This company title lasted for less than three years, but in that time a remarkable airplane was developed and put into production, the Lockheed Vega, which was designed by John K. The Vega was well known for being a favorite aircraft of Amelia Earhart.