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...French railways. The high-speed TGV train can now do the 660-km trip in just three hours, about the same as flying if you include early check-in times and travel to the airport, and has been offering one-way fares as low as €38. Jean-Cyril Spinetta, the chairman of Air France, says that airport taxes on that route alone come to €51, so there's no way airlines can compete on price. "Is it legitimate that this can happen?" Spinetta asks, pointing out that the French national railway continues to receive huge subsidies - while European...
Still another source of pressure at home was the decision by black miners to declare a strike on Aug. 25. Cyril Ramaphosa, general secretary of the National Union of Mineworkers, announced that his union would walk out of 18 gold mines and eleven coal mines unless the Chamber of Mines increases the pay hike that went into effect on July 1. That increase ranged between 14% and 19.6%, but the union wants an across-the-board raise of 22%. The union claims it can get 240,000 workers to walk out. The Chamber of Mines, the trade association that handles...
South Africa's blacks. But these days, there's a new breed of tycoon walking the club's wood-paneled corridors and sipping whiskey in its stuffed leather chairs. A black élite has crossed over from politics and the ruling African National Congress (A.N.C.): Rand Club members include Cyril Ramaphosa, 52, one of South Africa's richest men, who was once touted as a possible successor to Nelson Mandela, and Tokyo Sexwale, also 52, another politician turned capitalist...
...JEAN-CYRIL SPINETTA, CEO of Air France-KLM, on corporate culture at the merged airline, which hailed a 41% jump in second-quarter net profit
...terminal 2E at France's Charles de Gaulle airport was not only hailed as a stylish triumph of innovative yet practical design; the €750 million complex was supposed to transform Paris into "the most powerful hub in Europe, ahead of Frankfurt and London," boasted Air France CEO Jean-Cyril Spinetta. At full capacity, the terminal's twinned, 650-m-long main structures could handle 10 million passengers a year. Computerized baggage systems would transport luggage with minimal error, while travelers relaxed in the bright, spacious interiors of the tubular buildings. But today 2E is welcoming only the investigators...