Word: bargainer
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Dates: during 1970-1979
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...Airways (eleven jets) has broken the iron grip of the International Air Transport Association (I ATA) on transatlantic pricing* and prodded the industry's giants into offering competitive fares that are lower than they ever thought they would go. Pan Am and TWA actually beat Laker into the bargain-basement blue yonder by eleven days, selling stand-by seating on regular flights for $256 round trip...
That was how it began; where will it all end? The lower fares, whether profitable or not, will remain in effect for a while-if for no other reason than that the U.S. Civil Aeronautics Board has approved them for varied experimental periods. Indeed, bargain fares between New York and London are still proliferating. Last week President Carter overturned a decision of the CAB and in effect allowed British Airways and other airlines to begin immediately offering "Super APEX" fares ($290 round trip, reserved seats bought 45 days in advance...
...matching him. Says one Washington-based ticket agent: "We'll lose less money competing than we would if we didn't. Even though you might be a loser, you lose less." The big lines, in fact, may gain rather than lose. Laker hopes that the bargain fares will be, in the jargon of the industry, "generative" rather than "diversionary." That is, they will not merely switch passengers from high-fare to low-fare flights but tempt into the air people who would otherwise not fly at all. Wall Street analysts believe just that may happen...
...case, now that New York-London fares are down, consumer pressure is building up on both sides of the Atlantic for bargain prices on other routes. The CAB has let it be known that it will approve almost any low-fare offer. Says one CAB official: "The doors are open"-and airlines are walking through. KLM, the Dutch airline, has just proposed a $332 round-trip fare from New York to Amsterdam to start late this month; Iceland's airline is seeking a Chicago-Luxembourg fare of $295 and a New York-Luxembourg price of $275. Surely Freddie Laker...
...onetime chief director of the family business, had been forced out in a corporate power play and was seeking to build an empire of his own in Florida Before and during the Depression, Ball made regular swings through Florida for Du Pont, buying up businesses and land at bargain prices. When Du Pont died in 1935, Ball was the obvious choice to manage the estate...