Word: heathrow
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...negotiations must have been successful: each side thought the other guy got the better of the deal. That was the reaction among industry officials last week when U.S. and British negotiators finally completed a new transatlantic airlines accord, settling a major dispute over access to London's Heathrow Airport and for the moment keeping poor Pan Am alive by the skin of its fuselage...
...battle was joined last fall when Pan Am, surviving only by auctioning off pieces of itself, agreed to sell its valuable gates and landing slots at Heathrow to United Airlines for $290 million. Ailing TWA soon followed suit, accepting a $445 million offer for its spots at Heathrow from American Airlines. British Airways, the world's largest international carrier (20 million passengers last year) took one look at the two giants setting up shop at the next terminal and squawked. Says Matthew Stainer, a London airlines analyst: "Its only U.S. competition was Pan Am and TWA. Both are good people...
...Eastern, TWA and Continental. To remain aloft, the weaker carriers sold routes, planes and other assets piecemeal to their stronger competitors, widening the chasm. Desperate for cash, Pan Am offered its London routes to United for $290 million, while financially troubled TWA agreed to unload its Heathrow landing rights to American for $445 million...
...evidence piled up. A May 15 member en route from Baghdad was arrested in Tunisia with a suitcase bomb like Awad's. Under interrogation, the man admitted that he and another May 15 member, called Abu Saif, had put a bomb on a Pan Am flight from London's Heathrow Airport to New York. The bomb had been found on Aug. 25, 14 days and 40,000 miles later, unexploded, when the aircraft landed in Rio de Janeiro. It had not blown up because the bombers inadvertently broke off the safety pin, leaving the tip stuck in the bomb...
...Coventry, Matrix-Churchill International, was found by British customs to have exported precision lathes and supplied training to Iraqi engineers. There was nothing illegal about either transaction. In March a joint Anglo-American sting operation foiled an attempt by Iraqi agents to ship to Iraq through London's Heathrow Airport U.S.-made electronic capacitors that could be used in a nuclear bomb...