Word: burrs
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Wall Street thinks that many airlines, including Eastern, Pan Am, Western and Ozark, are vulnerable to takeovers. But People Express is not on the hit list, Burr insists. Says he: "It would be nearly impossible to take over People. We're bulletproof." Burr points out that 62% of his airline's stock is controlled by employees, directors or other friendly investors...
Today's heady success is only the beginning, according to Burr. Says he: "In five years, People Express will be a worldwide transportation company, carrying people and freight, and packaging hotels and rent-a-cars, the works." Some skeptics, though, think that People could instead end up like Laker Airways, the cut-rate transatlantic carrier that expanded too fast and went bankrupt...
...matter what eventually happens to People Express, it has changed the airline industry forever. Burr, Lorenzo and other discounters proved that there was a huge untapped market for low-cost air travel. They have met the needs of millions of Americans. Says Venice Gorman, 31, a New York City hospital worker who flew on People to see her parents in Norfolk: "Before People Express, I used to stay home and call my relatives on the phone. Now I can visit in person...
Even when seats are not sold out, the Newark terminal is inadequate for the 400 flights that the airline operates daily. Not enough chairs can be fitted into the small spaces at the gates, and many passengers sit on the carpet as they wait to board. Burr thinks that this problem will be solved with the construction of a new People terminal at Newark. Scheduled to be completed in 1987, it will be nearly five times as large as the current building...
...have left because they were dissatisfied with their pay and disliked being assigned extra jobs on the ground. Between 1984 and 1985, the number of pilots dropped from 1,100 to about 950. "We're having a family crisis," says Philip Rogers, a 727 captain who has stayed on. Burr says the remaining pilots are enough to fly the fleet, and new ones are being hired...