Word: braniff
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Tipped by Braniff, the Government sues American...
...sometimes ill-mannered, a man who has a low frustration level. To what degree was very evident last week when the Justice Department, in bringing a federal civil suit against Crandall and American, revealed the startling contents of a telephone conversation between him and Howard Putnam, 45, chairman of Braniff International...
...sign of the chaos that has overtaken the industry since the Airline Deregulation Act of 1978 gave rise to wider competition. U.S. carriers lost an estimated $550 million in 1982, the third consecutive year of record deficits. Experts now fear that some weaker airlines may follow the route of Braniff International, which declared bankruptcy last May. Among those considered at risk: Pan American, which had $327 million in operating losses last year, the most for any airline; and Air Florida, a onetime highflyer that encountered turbulence after expanding too fast. The test for some carriers could come quickly, since...
...driven planes, Piedmont also bought twelve new Boeing 737s, making it the world's largest 1982 purchaser of new aircraft. The airline plans to buy nine more 737s in 1983. Another sign of Piedmont's health in a troubled industry: in its cockpits now are 100 former Braniff pilots who lost their jobs when that airline went bankrupt last...
This year, however, the failed smaller companies have been joined by such large, well-capitalized corporations as Braniff Airways, Wickes Cos., Saxon Industries and De Lorean Motor Co. Says Purdue University Professor William Dunkelberg: "The recession is performing the age-old process of creating leaner, meaner and more efficient firms. Unfortunately, the recession has also cut heavily into the lean and mean. We've lost established companies to low demand and high debt...