Word: airing
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Dates: during 1970-1979
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...Kambara's and Ray's are typical of countless families throughout the U.S. and many from foreign lands who are hopping aboard bargain flights across the Atlantic and within America. Millions of people are making that extra trip they otherwise would not have made, and many are first-time air travelers. With U.S. airlines and a few foreign carriers offering reductions of up to 50%, air fares are easily the best value in an inflation-ridden global economy...
...toward unprecedented heights, proving the old (and often ignored) capitalist doctrine that lower prices lead to higher demand, which in turn creates higher profits. In the first six months earnings jumped 16.3%, and for the full year should hit a record $1 billion. This year's surge, says Eastern Air Lines President Frank Borman, the former astronaut, "has been above our wildest expectation. We have become mass transit, and this may be as revolutionary as the introduction of the jet engine itself...
...trip under the line's $302 to $323 fare that entitles a traveler to unlimited mileage?from Atlanta to Acapulco, from Seattle to San Juan?for 21 days. A new status symbol among businessmen is to know the unlisted reservations numbers that airlines have for VIP travelers. Laments Delta Air Lines President David Garrett: "We've got 18 different fares just between Atlanta and London, and they have all got to be explained in lengthy phone calls. We just can't keep...
...partners to keep from being swallowed up by the big airlines if and when deregulation goes through. Texas International is trying to take over National. Defensive linkups are also planned by Southern and North Central as well as Continental and Western. Says one worried Western executive: "To us, United Air Lines seems just like a big cougar perched on a rock waiting to pounce...
This is supremely important because, even if the growth in air travel levels out to 6% a year, U.S. lines will need to borrow $56 billion by 1985 to replace their aging jets. Lenders will tend to favor the lines that stand to benefit the most from deregulation, meaning the bigger, richer carriers. Though the U.S. certainly needs more competition and fare flexibility in the air, the specter of unbridled price cutting and route grabbing frightens many financial experts, who fear that some lines will not be able to earn the returns needed to justify large loans. One airline financial...