Word: low-cost
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...there's been airspace for everyone, although not without a few elbows being thrown. Lee Howard, president of Airline Economics International Inc., an industry consulting firm, estimates that 15% of domestic air traffic is now hauled by low-cost airlines, up from 10% little more than a year ago. According to Glenn Engel, an airline analyst at Goldman Sachs, the no-frills upstarts had revenues last year of $6 billion (out of an industry total of $75 billion to $80 billion), in contrast to $3 billion...
...Terner was appointed director of housing and community development for the city of California. He then established the BRIDGE Housing Corporation, a non-profit organization which has constructed more than 6,000 units of low-cost housing throughout San Francisco...
Providing low-cost Internet access is a smart move for AT&T in other ways too. It seems likely to increase customer loyalty, because switching phone companies will now mean switching E-mail addresses and installing new software as well. The most lucrative service in the future, however, may be hooking up businesses to the Net. Currently most consumers access the Internet through their inexpensive plain old telephone line, which cannot handle much information quickly. By contrast, many businesses link to the Internet through specialized T1 lines. Although they can cost up to $30,000 a year, T1 lines...
Experienced controllers are also in short supply. Staffing has become such a problem that major hubs have instituted mandatory six-day weeks. After the FAA decided in 1994 to discontinue incentive bonuses for work in high-stress, high-volume, high-cost areas, many veterans migrated to jobs in low-stress, low-cost areas. Now, as job openings go unfilled for months at a time at major hubs like New York, Chicago and San Francisco, each controller not only carries the work load of three but works mandatory six-day weeks as well. Union officials dryly note that even with...
...YORK CITY: Pan Am is back from the dead. Investors have raised $30 million to restart the engines of the historic airline that stalled out of business in 1991. Starting this summer, Pan Am will try to squeeze its way back into the crowded skies as a low-cost carrier with 400 to 500 employees, many of whom will be recruited from original Pan-Am workers who were laid off. The new company, which bought the rights to the Pan Am name at a bankruptcy auction for $1.3 million, will be headed by Martin Shugrue, chief operating officer...