Word: luxembourger
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There were six reigning monarchs: Emperor Haile Selassie of Ethiopia, the Shah of Iran, Queen Juliana of The Netherlands, King Baudouin of Belgium, Prince Rainier of Monaco and Grand Duke Jean of Luxembourg. Charles, Prince of Wales, was seated among other young royalty, including Norway's Crown Prince Harald and Sweden's Crown Prince Carl Gustav. From what was once French Africa came leaders and statesmen from 17 now independent nations, including Senegal's Léopold Sedar Senghor and the Ivory Coast's Félix Houphouët-Boigny, who revered De Gaulle...
...International Monetary Fund meeting, French Finance Minister Valéry Giscard d'Estaing caustically compared the world's reliance on the inflation-eroded dollar to the act of setting a watch "by a clock that is out of order." Last week a committee headed by Luxembourg's Prime Minister, Pierre Werner, handed in a report suggesting how the Common Market countries can create a new "Eurocurrency" that would acquire some of the privileges and powers of the dollar...
...passenger volume increased 41%, to a record 71,500 passengers. Its average load factor is an enviable 69%. Last year it earned $1,095,000 on revenues of $23.5 million. The biggest attraction is Icelandic's small fares. A round-trip excursion ticket between New York and Luxembourg costs $259 in the peak season and requires no minimum stay. For turboprops the fare is $239. The cheapest equivalent flight on any other scheduled line is $320 New York-to-Brussels, with a minimum stay of 29 days...
...bargains exist because Icelandic refuses to join the International Air Transport Association, the rate-making cartel. As a result, only New York's John F. Kennedy Airport and Luxembourg international officially allow Icelandic to use their facilities for transatlantic jet flights. (The U.S. makes this concession because NATO has American-manned military bases in Iceland; Luxembourg's airline does not belong to I.A.T.A.) Icelandic manages to fly CL-44s out of five other European cities, but does so through a clever device. It charges I.A.T.A. rates on regular flights from, say, London or Oslo to Iceland; then...
Today the airline is Iceland's largest private employer, with a staff of more than 700. It owns the country's biggest hotel, the 108-room Loftleidir in Reykjavik. Last year it bought another line, International Air Bahama, which flies between Nassau and Luxembourg. With that kind of performance, Managing Director Alfred Eliasson, who was one of the founders, is not overly concerned about competitors who criticize his low pricing policies. "No airline," he notes, "is obliged to be a member of I.A.T.A...