Word: carriere
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...Northwest Airlines formally merges its flight schedule with Republic's, creating what will be the fifth largest U.S. airline, with 9.4% of the market. Trans World Airlines, which gained DOT % approval early this month for its $250 million purchase of Ozark Air, will soon be the sixth-place carrier (8.1%). Two weeks ago Delta Air Lines announced a bid to take over the fourth-place spot (11.9%) in the passenger race with an $860 million play for Western. Warns Lee Howard, an economist with the Washington consulting firm Airline Economics: "We see a tight oligopoly emerging in the airline industry...
...latest buyouts take place as planned, eight airlines will control more than 87% of the U.S. passenger market (see chart). The rush of new entries into the passenger business that began with airline deregulation in 1978 has long since peaked: from a high of 123 certified passenger carriers in 1984, the field has now shrunk to 96. Enthusiasm for new airline ventures among financial backers has dropped dramatically. Says Geoff Crowley, a senior vice president of Presidential Airways, a year-old low-fare carrier based in Washington: "We wouldn't be able to get started now. Wall Street is casting...
...mean the end of low fares, just the end of $99 transcontinental fares." The Department of Transportation's Scocozza argues that "as long as there is head-to-head competition in the marketplace, we should not be concerned." For every airline merger, Scocozza adds, "I see a smaller carrier taking its place." Houston-based TranStar, for example, is now offering a $79 fare between Miami and Los Angeles. As far as overall customer choices are concerned, Al Becker, a spokesman for American Airlines, argues that today "most people can get to more places more frequently than at any time...
...skies. Rather than pursue competitors, prosperous Delta (fiscal 1986 profits: $47.3 million) has grown by adding hubs in Dallas and Cincinnati. Last week Delta tacitly admitted that such a strategy might be a bit timid for these turbulent times. Seeking to become a force in the West, the carrier announced that it was buying Los Angeles-based Western Air Lines for $860 million. If approved by the Department of Transportation, the deal would give Delta two new hubs, in Salt Lake City and Los Angeles. The combined carrier would haul some 50 million passengers annually, making it the nation...
...Santa Barbara, the Reagan Administration condemned the hijacking and ordered a Sixth Fleet aircraft carrier, the Forrestal, to proceed from Naples to the vicinity of Cyprus in the event that the Pan Am jet was flown there. Vice Admiral John Poindexter, the National Security Adviser, telephoned news of the hijacking to President Reagan at his ranch in the Santa Ynez Mountains just as the Reagans were about to set out on their daily horseback ride. Later the White House released a statement declaring, "Nothing can justify such barbarism. We can think of no punishment too severe for the criminals responsible...