Word: braniffs
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...seismic years. As an adman, he taught America's children the insistent demand "I want my Maypo." In the early 1980s he recycled the line to meet their grownup tastes: "I want my MTV." And he's the man who told people, "When you got it, flaunt it" (for Braniff airlines, remember?), a pretty good description of his advertising ethos...
...When Braniff airlines suddenly canceled virtually all its 256 daily flights last Wednesday, many customers must have had a sinking sense of deja vu. Just five years after the airline emerged from a two-year bout with Chapter 11, Braniff said it was filing for bankruptcy protection once again. The company's decision seemed all the more abrupt because only last May it moved its headquarters from Dallas to Orlando and ordered 50 new Airbus A320 jetliners for $2 billion...
...Braniff's bullish executives had hoped to find a niche for the midsize airline by developing a hub at the Kansas City airport, an opening that was created by a retrenchment at bankrupt Eastern Airlines. But Braniff's business failed to grow fast enough to support its debt payments. When a recent bridge financing deal for $75 million fell through, Braniff was strapped for cash. The bankrupt airline, which has laid off 2,800 of its 4,800 employees, hopes to rebuild slowly...
...Texas airline will deploy many of the jets at its two principal hub cities: Kansas City and Orlando. The carrier last year bought 16 Kansas City airport gates from ailing Eastern Airlines. Braniff also aims to move into other airports neglected by the major carriers, but is keeping mum about which ones...
...Though Braniff lost $11.4 million for the nine months ending Oct. 31, industry analysts think it can become profitable. But the true ambitions of its owners, an investment group that bought Braniff last June for $105 | million, remain a subject of speculation. The management, says Kevin Murphy, who follows the industry for the Morgan Stanley investment firm, wants "to get this thing to be a viable enterprise and sell it to a major airline. They are not in it for the long run." But at least for the short term, the Braniff logo is going to become a familiar sight...