Word: carriere
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Hard times in the airline industry have left a few strong carriers with most of the traffic and a handful of debt-ridden ones struggling to stay aloft. Last week two of the weaker airlines decided that a merger may help them survive. TWA chairman Carl Icahn, who began pursuing a merger with Pan Am two months ago, finally persuaded the rival carrier to agree tentatively to a deal. Under the terms, TWA would acquire Pan Am for $375 million, or $2.50 per share in cash and securities. The merger, however, depends upon Icahn's ability to provide a bridge...
...pioneers in overseas flights would still face formidable hurdles. TWA is saddled with one of the oldest fleets in the industry and an estimated $2 billion in debt, while Pan Am lacks a strong domestic system. Moreover, by selling their London routes to two of the most aggressive U.S. carriers, Pan Am and TWA can expect increased competition overseas. Yet the merger would have at least one advantage: the combined carrier would have to sell off overlapping routes, providing it with additional cash...
Most airline food is nothing to write home about. But Alaska Airlines is so confident that its cuisine soars above the competition's that the carrier is giving passengers a chance to convey their compliments to the chef face to face. Alaska's executive chef Wolfgang Erbe, in his pleated toque, has been strolling the aisles twice a month soliciting passengers' reactions to his food. Commuting between the 17 West Coast airport kitchens where Alaska's meals are prepared, Erbe says, "We want to promote the image of the airline as a moving dining room." With meals like poached salmon...
...filing came as the nation's fifth largest carrier was beginning to win back customers with a better on-time performance and other improvements. Most passengers stuck with the airline. The real crunch may come next month when the peak season ends. "Once holiday price slashing is over, fares will have to increase," Harris said. "But to raise them at the rate necessary to offset the total increase in fuel prices would cripple business travel and all but obliterate pleasure travel." Harris must navigate such turbulence if he expects to fly Continental out of Chapter...
Navy Secretary H. Lawrence Garrett III ordered Gentz to retire by next February, ending a 33-year career. His top two subordinates overseeing the A- 12 Avenger, a carrier-based plane that will use stealth technology, were censured. A Navy report accused the Avenger's developers, McDonnell Douglas ! and General Dynamics, of falling behind on the aircraft and concealing this from the Navy. The report also blamed the excessive secrecy surrounding the A- 12 program for the failure of high-level Pentagon officials to spot flaws sooner in the contractors' rosy estimates...