BMW's first significant aircraft power plant was the BMW IIIa inline-six liquid-cooled engine of 1918, much preferred for its high-altitude performance. With German rearmament in the 1930s, the company again began producing aircraft engines for the Luftwaffe. Among its successful WWII engine designs were the BMW 132 and BMW 801 air-cooled radial engines, and the pioneering BMW 003 axial-flow turbojet, which powered the world's first operational jet fighter, the Messerschmitt Me 262.
By 1959 the automotive division of BMW was in financial difficulties and a shareholders meeting was held to decide whether to go into liquidation or find a way of carrying on. It was decided to carry on and to try to cash in on the current economy car boom enjoyed so successfuly by some of Germany's ex-aircraft manufacturers such as Messerschmitt and Heinkel. Therefore the rights to manufacture the tiny Italian Iso "Isetta" were bought using a modified form of BMW's own motorcycle engine. This was moderately succesful and helped the company get back on its feet. The dominating shareholder of the BMW Aktiengesellschaft since 1959 is the Quandt family. Stefan Quandt, Johanna Quandt and Susanne Klatten (born Quandt) together own about 46% of the stocks. The rest is in public float.
