Word: charter-flight
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...five years, Kerkorian has ushered in a wave of consolidation, snapping up Steve Wynn's Mirage Resorts in 2000 and just last month agreeing to buy Mandalay Resort Group for $7.9 billion, including debt. A World War II pilot who started his Vegas career by building a $100 million charter-flight business, Kerkorian will soon control half of the Strip's 75,000 rooms...
...vain. That scene in Olivia de Havilland's 1962 movie, Light in the Piazza, often evokes a knowing chuckle from seasoned American travelers. U.S. consuls have a reputation-sometimes deserved, frequently not-of being coldly impervious to fellow citizens in distress. Now that the expanding but unreliable charter-flight business is leaving a growing number of travelers high and dry (TIME, Sept. 4), the question of the consuls' responsibilities is more pressing than ever...
...nonscheduled airlines: Overseas National, World, Saturn and others. World's military-transport volume, for example, plunged from $51 million in 1969 to $27 million last year. Hoping to make up for these losses, the nonskeds began competing even more aggressively for passenger business over the Atlantic, offering charter-flight fares as low as $180 round trip in some instances. Today the nonskeds have 18.5% of the North Atlantic business, including 35% of the West-Coast-to-Europe travel...
Among those most anxious to see it end quickly are leaders of the nonscheduled airlines that are the backbone of the charter-flight business. Last year nearly 20% of all transatlantic passengers traveled on charter flights. Now, with the Viet Nam War grinding down and with Government contracts to ferry G.I.s being scrubbed, charter carriers are facing overcapacity. Meanwhile, the charters' competitive advantage in the form of lower fares to Europe has evaporated-at least as far as youngsters are concerned...
...Harvard Student Agencies' Board of Directors has recognized--somewhat belatedly--that the Harvard community deserves answers to the questions raised about its charter-flight operations. A three-man committee of the Board will prepare a report discussing charges that the HSA has violated international charter regulations and that its fares for European flights are excessive. But the report will be satisfactory only if it is frank and detailed, and advance indications are hardly optimistic...