Word: mergers
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Dates: during 1950-1959
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...swap on the basis of book value-was by no means clinched. It depended on 1) approval by CAB of a pending Delta application for a route into New York from Atlanta (through Columbia, S.C.), which would connect up with the Northeast system, and 2) CAB approval of the merger itself. If approved, the merged lines would provide through service from Montreal and New England clear down to Miami, in direct competition with Rickenbacker's north-south business...
...merger proposal was bound to cause a fight. Captain Eddie was sure to oppose it. So was National Airlines, which also runs down the east coast. National and Eastern had battled Delta once before when it tried to get into New York, on grounds that the New York-Miami run could not support another carrier...
Nevertheless, both Northeast's Gardner and Delta's Woolman thought they could eventually get CAB's green light. Said Woolman: "This [type of] merger is what CAB . . . has been asking for. It is not a shotgun wedding, but something both want to improve operations...
...languages for A.O.A. bank accounts, runway permits, some 35,000 spare parts. Pilots of A.O.A. planes were issued 6-by 12-inch signs reading: "This aircraft is the property of, and operated by, Pan American World Airways." The signs were to be hung in passenger compartments the instant the merger took place...
...merger gives Pan Am 2,502 extra route miles and an opportunity to capture 33% of the transatlantic traffic. Pan Am will now stop in ten additional cities in Iceland, Scotland, Germany, Holland and Scandinavia, will go to Paris and Rome within a month. With the help of the 18 four-engine airplanes (DC-4s, Stratocruisers and Constellations) that it acquired in the deal, Pan Am stepped up weekly transatlantic crossings from 22 to 29. Juan Trippe still did not think its 144-plane fleet big enough. To replace aging DC-4s on the South American run, Pan Am last...