Word: groups
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Dates: during 1980-1989
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When an ordinary company takes on a load of debt, the people who have the most to fear are employees and investors. But when an airline goes heavily into hock, the worriers are joined by another group: customers. If an airline is bogged down by debt, they wonder, would the carrier be tempted to save money by lowering its standards on maintenance and other safety measures? Everyone from passengers to politicians has begun to debate that question as billion-dollar takeover wars sweep the U.S. airline industry. Says Jerome Lederer, founder of the Virginia-based Flight Safety Foundation, an aviation...
...second largest U.S. carrier for $6.75 billion. In the highly leveraged deal, employees would own 75% of the company, top managers would get 10% and investor British Airways would have 15%. Beverly Hills billionaire Marvin Davis, who had bid $6.19 billion for UAL, said he would match the management group's offer if that package were to fail. In Washington a takeover group headed by Los Angeles investor Alfred Checchi outlined its $3.65 billion purchase of NWA, the parent of Northwest Airlines, in a voluminous filing with the Department of Transportation, which is reviewing the deal...
...task force was launched last year after a section of fuselage ripped off an Aloha Airlines 737, sucking a flight attendant out of the plane. The group's report on McDonnell Douglas aircraft followed a May FAA order for the overhaul of 1,300 vintage Boeing aircraft. Taken together, the moves were aimed at rejuvenating the 3,300-jet U.S. fleet, which averages 13 years of service per plane and is the oldest in the non-Communist world...
Airlines are scrambling to buy new aircraft, but the huge growth in air travel has forced them to keep many of their older planes in the air even as the modern ones arrive. According to the Future Aviation Professionals of America, an Atlanta-based group, U.S. carriers will need 50,000 new mechanics by 1997 as the airlines take delivery of 3,000 new jets with a value of more than $40 billion...
...Europe and Asia, some aviation experts have been critical of U.S. aviation practices. Japan's Ministry of Transport complained last month that mechanical problems had forced too many Northwest flights to return to Tokyo's Narita airport after takeoff, allegedly increasing congestion at the crowded facility. Last May a group of European airlines refused to take delivery of Boeing's new 747-400 jetliners until the company agreed to reinforce the cabin floors...