Word: cabs
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...January, partly because the gasoline squeeze forced many motorists to take to the skies for long trips. Airlines have used the energy crisis as an excuse to drop hundreds of unprofitable flights, and have been allowed to raise fares 5% to help cover higher costs. Last week the CAB put the finishing touch on that pleasant scenario: it ordered its long-awaited restructuring of fares, but the net effect for most lines should be a slight gain in revenue...
Dearer Luxury. Under the CAB plan, which will take effect July 16, coach fares for long-haul flights (more than 750 miles) will be cut by as much as 5%, and short-haul coach fares will be raised by as much as 30%. As a result, the price of a one-way coach ticket for the 2,585-mile flight from Miami to San Francisco will drop from $167.59 to $158.33, and the fare for the 91-mile flight from Boston to Hartford will rise from $15.74 to $18.92. In addition, the board ordered an increase over the next...
...fare overhaul ordered by the CAB should raise industry revenues a bit more than 1% above last year's levels. Reason: most coach passengers take the short-haul trips that will become more expensive. Braniff International appears to be the biggest winner; its web of short routes across the Southwest will bring in a projected 3½% more revenue. National and TWA, both mostly long-haul carriers, will each lose about ½ of 1% in revenues. The nation's seven other domestic trunk lines will fall somewhere in between...
...industry's horizon. Traffic may level off when airborne ex-motorists find it easy to buy gasoline again, and the general economic slowdown may eventually catch up with air travel. Yet most airlines have already made enough energy-related flight cutbacks to weather such a storm. And the CAB is expected to rule favorably on the industry's request for yet another fare increase, this time 6% effective April 16, to cover the rising cost of fuel...
...high as their domestic counterparts. Fuel costs have risen far faster outside the U.S. than at home, and the two American flag carriers are finding it increasingly difficult to compete with government-subsidized foreign airlines. Last week Pan Am, which lost $7.6 million in January alone, asked the CAB for permission to discuss combining a number of its routes with TWA, which lost $21 million in January. The request raises antitrust complications and will have to be cleared by the Justice Department. If approved, the partial merger likely would allow Pan Am to abandon some foreign cities now served...