Word: klm
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...takeover may help inflame growing U.S. anxiety about foreign investment in American companies. Last week the U.S. Department of Transportation persuaded Alfred Checchi, who led a $3.6 billion buyout of Northwest Airlines, to reduce the participation by KLM Royal Dutch Airlines in the deal from $400 million to $175 million. DOT officials said they would also scrutinize plans by British Airways to invest $750 million in the $6.8 billion employee purchase of United Airlines. Transportation officials said one concern is that foreign investors might share inside knowledge about U.S. airlines with their own governments, thus undercutting U.S. negotiations with other...
FOOTNOTE: OUR GUEST JOURNALISTS: Dwayne Andreas, Archer Daniels Midland; J. Robert Ave, Lorillard; C.M. Bishop Jr., Pendleton Woolen Mills; Howard Cooley, Jockey International; Ronald Davis, Perrier; *J.F.A. de Soet, KLM; Patrick Foley, DHL Corp.; R. Michael Franz, Murata Business Systems; Ernest Gallo, Gallo Winery; James Harvey, Transamerica; Kim Duk-Choong, Daewoo Group; Philip *Knight, Nike; Gunter Kramer, BMW; George Lawrence, American Gas Assn.; Richard Maher, Christian Brothers Winery; Henri Michel, Aerospatiale; Mechlin Moore, Insurance Information Insti*tute; Hideo Nakao, NEC Electronics; Steven Ross, Warner Communications; Anton Rupert, Rembrandt Group; Robert Sinclair, Saab; Preston Robert Tisch, Loews; Graham Whitehead, Jaguar...
...contrast to the U.S. fleet, many foreign carriers are flying newer planes. Some airlines can well afford the investment because they can charge regulated airfares, as in Europe, or because their business has been booming, as in Asia. Lufthansa's fleet averages 7.7 years old, Swissair's 8.5 years, KLM's 8.4 years and Singapore's 4.5 years...
...safety of jets outside the U.S. varies from better to worse. Many airlines in South America, Africa and Asia adhere to standards lower than those in the U.S. But the northern European carriers, among them Lufthansa, KLM, SAS and Swissair, have been investing heavily in new planes and seem to be driven by what an industry expert describes as a "Germanic passion for technical perfection." Lufthansa, which already has a fleet averaging just 6.2 years old, last March ordered 20 new Boeing 737s and took options on 20 more at a potential cost of $1 billion. Also renowned: Australia...
...from Miami to Madrid. The reason: lack of business. Says Hal Rosenbluth, president of a Philadelphia travel agency: "I think the public tends to perceive the U.S. flag carriers as targets." The airlines most immune to the slump are national carriers of northern European countries, which include the Netherlands' KLM, West Germany's Lufthansa and Belgium's Sabena. Israel's El Al, which adheres to rigorous security measures, also remains popular...