Word: klm
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Several foreign airlines have made connections with U.S. counterparts -- or ) have made proposals to do so. KLM Royal Dutch Airlines holds a 49% equity stake in Minnesota-based Northwest Airlines. The two airlines share caterers, computers, fares and maintenance facilities. Says Michael E. Levine, Northwest's senior marketing executive: "We are allowing two medium-size airlines to grow together as if they were a much larger global network. Our ultimate objective is to provide a seamless travel experience." Last week Houston's Continental Airlines, struggling to emerge from its second Chapter 11 bankruptcy proceedings in a decade, announced that...
...Until now, Bush Administration policy in airline trade negotiations has been aimed at winning bilateral "open skies" agreements, swapping equal access to markets one country at a time. The only such agreement concluded so far, though, is with the tiny Netherlands, a pact that followed Northwest's deal with KLM...
...long-held desire to enter the American market, fly into more U.S. cities and pick up more American travelers for its transatlantic flights. Although foreign ownership of American airlines is limited to a 49% stake and 25% of voting stock, European and Asian carriers have rushed to make deals. KLM Royal Dutch bought 20% of Northwest in 1989, and in 1988 Pan Pacific Hoteliers Inc., a subsidiary of Japan Airlines, took a 20% position in Hawaiian Airlines...
...capital at a time when they are suffering from recession, a wartime travel slump and high fuel costs. Earlier this month, cash-starved Eastern Airlines shut down after 62 years. Both Continental and Pan Am are operating under Chapter 11 protection. One immediate beneficiary of the new policy is KLM Royal Dutch Airlines, which will be allowed to keep most of the 57% stake it bought in Northwest Airlines in 1989. Skinner believes that the infusion of foreign money will boost competition in the airline industry and help keep fares down...
...part of the international embargo against Iraq. Some carriers have gone further. Jet Tours, a major holiday carrier 70% owned by Air France, has simply shut down all its tours to Syria, Jordan and Yemen. Some regular commercial carriers are making costly detours around the entire Middle East region. KLM, for example, is rerouting long-haul flights that normally land in Dubai or Bahrain, cutting its weekly service to the region by more than half. Pan Am has rerouted its flights from Frankfurt to Pakistan and Saudi Arabia so that they fly farther from Iraqi airspace. Air France has canceled...