Word: canadair
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...York City. He had left his home in Pittsburgh, Pa., the previous afternoon and flown to Raleigh, N.C., via Cincinnati and at 4:10 p.m. the next day was on his way to his office on Long Island. He had traveled all four legs on Comair's 50-seat Canadair Regional Jets. He was thrilled, a feeling that commuter-airline passengers usually get only in dicey weather. "I have some reservations when I'm told I'm flying a Delta Connection flight," said Paffenroth, uttering the dreaded words that often indicate a slow, noisy, cramped trip in a turboprop...
...regional carriers and their affiliates, it all means more profits. The Canadair Regional Jet has a sticker price of $18 million, vs. $7.5 million for an Embraer Brasilia, a popular 30-seat turboprop, but because the jet generates higher revenues, it has been profitable for Comair since its first month of operation. It has also fueled growth for Comair. The carrier's revenues have more than doubled since 1993, the year Comair started flying jets, to $564 million in fiscal 1997. Profits have risen meteorically: last year Comair posted net income of $75.4 million, an increase of 291% from...
...Stanford economics graduate (B.A., '34), Lewis started as a metal cutter at Lockheed, rose during the war to boss of sales but quit in 1947 to join Canadair, a General Dynamics subsidiary. He was an Assistant Secretary of the Air Force when Pan American World Airways President Juan Trippe hired him in 1955 as an executive vice president. When he left Pan Am to join General Dynamics, he not only gave up an odds-on chance to succeed Trippe some day but made a tremendous financial sacrifice: he forfeited stock options that by now would have brought...
Last week Icelandic moved to offer a little more speed along with the low fares. For $8,000,000 it bought two Canadair CL-44 turboprops that will cut Icelandic's New York-to-London flying time to eleven hours, compared with 16 hours for the DC-6Bs and six hours for the jets...
...blood into top management." Last week Pace resigned. Tapped to replace him as chief executive at a salary of $125,000 was Roger Lewis. 50, now a $71,600-a-year executive vice president of Pan American World Airways. A lean, energetic executive, Lewis went from vice-presidencies of Canadair Ltd. (now a GD division) and later Curtiss-Wright Corp. to the Pentagon (as Assistant Secretary of the Air Force, 1953-55) and then...