Word: braniff
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...effect is bound to be a tighter squeeze on U.S. carriers. Braniff Airways, which began flying to Buenos Aires in 1948 and still gets a U.S. subsidy ($550,000 in the first half of 1957), may have to ask for more. Pan American's Latin American division, which in 1956 went off a subsidy that had been averaging $11 million a year, and Panagra, which went off subsidy at the end of 1954, may have to appeal again for aid from...
...about $90 million a year more, they still say it is far from enough. In the first eleven months of 1957, net operating income of the twelve lines dropped 49.8% to $56.5 million on total operating revenues of $1.4 billion. In November every line ended in the red except Braniff, and its income was down 55%. Deficits ranged from American's $1.9 million to Northwest's $247,000. The chief cause: while operating revenues rose 12% through November, expenses soared 17.9%. Nearly a year ago, when the airlines first began asking for an increase, they thought 6% would...
...Wage costs were up 33%, fuel 33%, other expenses as much as 120%. United Air Lines was in even worse shape. It boosted first-quarter revenues 6%-and lost $884,609. National Airlines, also operating at near record rates, expects a 25% drop in profits this year; American Airlines, Braniff and Delta are also down. Trans World Airlines boosted its revenue 10.5% last year, yet lost $2,300,000 v. $5,400,000 profit in 1955. This year operating revenue is up 17% over last year's first quarter-and the deficit has increased by 22%, forcing the line...
...month. Varney changed its name to Continental, and Six, made president in 1938, slowly plotted routes outward from Pueblo to Denver, by 1948 had 2,772 miles through Colorado, New Mexico, Texas, Kansas, Missouri, Oklahoma. As a further step, Six made interchange deals with American Airlines, United and Braniff. which permitted him to book customers to the West Coast...
...Money, that show businessmen at their materialistic worst. Yet for all the angry talk of flint-hearted, fatheaded bosses, there is a big difference in Company Man that is symptomatic of the spate of new novels rediscovering the American business scene. A businessman himself (onetime ad manager for Braniff Airlines), Author Burnett has tried to analyze and report how a big U.S. business works in modern-day society...