Word: low-cost
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...their ability to run large, complex organizations. "They're not like start-ups," says Bhatia, "so they say, 'you know, our balance sheet is actually stronger than some of our counterparts in London, or Europe, or America. We might as well buy these brands and make use of our low-cost manufacturing base to branch out into other markets outside of India...
...when it comes to price," says Ranjit Pandit, a director at consultancy firm McKinsey & Company in Bombay. "The two things missing were customer access and certain advanced technologies." It's much faster to buy what you need than spend years building it up yourself. By purchasing Corus, for example, low-cost steel producer Tata Steel hopes to get access to technology to make more sophisticated products, as well as a European client base. By bidding for Daewoo, Videocon seeks a foothold in East Asian markets and an extended global marketing-and-sales network. There are other compelling reasons...
...hometown, Atlanta, is desperate to keep the company--a number of analysts are saying, Don't bother. Aviation consultant Patrick Murphy, who used to track airline competition in the Department of Transportation, says, "A US Airways--Delta merger is the start of a needed consolidation," and notes, "The low-cost carriers are now big enough to offer real alternatives to large network airlines. It will be good for consumers in the long run, making fewer, healthier carriers." Industry experts believe United or American will jump into the bidding for Delta...
...playing field has started to change. For one thing, the big airlines aren't that big anymore. They have been weakened by competition and can no longer use cutthroat pricing to scare off newer, low-fare airlines like AirTran, Frontier and JetBlue. In fact, low-cost carriers (LCCs) now account for 25% of all airline traffic, up from 10% five years ago, which has helped drive down fares. Last August, low-cost king Southwest Airlines carried more passengers than any other U.S. airline, the first time an LCC has claimed the top spot...
FIRST-CLASSICAL The Spanish low-cost operator Vueling prides itself on landing below industry averages for lost luggage. It also names its aircraft after passengers and occasionally brings a string quartet on board to serenade them...