Word: air
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Dates: during 2000-2009
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...perhaps there is reason for optimism, thanks to Xi'an residents like Lu Bo, shopping one recent evening for a new fridge at a Suning appliance store. The 32-year-old, who works as an salesman in the air-freight department at China Eastern Airlines, says his salary was reduced by a third last year when his company was hit hard by the financial crisis, but that hasn't stopped him from spending. With China's future so bright, he doesn't worry too much about saving for the future. "Judging from my job, my life, I think everything will...
...late next year, is simple. BA and Iberia - combined annual revenues: $22 billion - are chasing their rivals' tails. Germany's Lufthansa, Europe's second-largest airline, has picked up smaller carriers from Austria to Switzerland in recent months. Thanks to the 2004 merger of the French and Dutch airlines, Air France-KLM is even further out in front. Troubled Iberia and BA, which both announced ugly losses over the past week, reckon eliminating duplicate services from fleet maintenance to business class lounges will save the airlines $600 million a year. That'll mean "a strong European airline will able...
...history of airline mergers, though, might suggest otherwise. Success stories - Air France and KLM in Europe; Delta and Northwest in the U.S. - are rare. Of the dozens of deals struck in the U.S. since the airline industry was deregulated in the late 1970s, most are considered flops. "I compare it to two drunks, where you assume that if they hold on to each other, they will walk straight," says Adam Pilarski, senior vice-president of U.S. aviation consultancy Avitas. He points to the bungled 2005 merger of US Airways and America West, and adds, "That's usually not the case...
...based holding company - will need to proceed with caution. Sure, rough economic head winds and the business of turning two firms into one can give cost cutting real momentum. The tough trading conditions following the Sept. 11 terrorist attacks were, after all, a "catalyst for the success of [the Air France-KLM merger] at the time," says Howard Wheeldon, an aviation expert at brokers BGC Partners in London. (Read "British Airways: High Costs Fuel Record Loss...
...focused messaging is running up against international and domestic events. On the flight to Asia, White House press secretary Robert Gibbs came to the press cabin on Air Force One only to be barraged with 12 consecutive questions about Afghanistan, followed by a question about Iraq. Later on Friday night, in Tokyo, during a briefing by Gibbs and Rhodes about Obama's speech on Saturday morning laying out a vision of U.S.-Asian relations, another news event intervened: White House counsel Greg Craig was leaving the White House, to be replaced by Obama's personal and campaign attorney, Bob Bauer...