Word: low-cost
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...industry embroiled in global competition, Wachner could not foresee a reasonable return on investment soon. Despite the improvements, Hathaway last year lost $5 million on revenues of $43 million. Many apparel makers have closed U.S. factories and/or shifted manufacturing to low-cost offshore havens. Hathaway, in fact, has a plant in Honduras where workers earn a fraction of the average wage of $7.50 an hour at Waterville...
...plight of Nations Air showed the public's concern about the safety of low-cost airlines as investigators dredged the swampy ValuJet crash site for clues to the cause of the accident. Such fear of budget flying could result in higher U.S. airfares if no-frills carriers halt or cut back service. ValuJet, which suspended 50% of its 320 daily flights after the accident, said last week it doesn't intend to return to full service before the fourth quarter...
...their pilots. In the case of the May 11 crash of ValuJet Flight 592, which plunged into the muck of the Everglades and killed all 110 people on board, the safety concerns are so varied--and the questions emerging about the role of the Federal Aviation Administration in regulating low-cost airlines so troubling--that it may be a while before passengers again feel that the skies are comfortable, never mind friendly...
...watchdog for all the agency's programs, including the FAA, ruffled feathers by publicly declaring she would not fly ValuJet. Perhaps she was familiar with the FAA report issued just nine days before the crash and first published by the Chicago Tribune last week. According to that document, the low-cost carriers as a group--the analysts removed the large and well-established Southwest--had an accident rate that was far higher than that of the major carriers. (Accidents include such lesser incidents as momentary loss of engine power, as well as those in which a passenger is injured...
...other low-cost carriers are already feeling the shock waves. Mark McDonald, president and CEO of Nations Air Express, a 15-month-old start-up based in Smyrna, Georgia, says the ValuJet crash has had "a tremendous impact" on his business. "Our bookings have been dropping about 40% a day [since the crash]," he says. "There is a lot of concern out there, and it's not getting any better." Jordan, who last week appointed retired Air Force General James B. Davis as ValuJet's new "safety czar," remains convinced, though, that his company--and passengers--can again fly high...