Word: miltons
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Like everyone else, Collenette is faced with learning to love Air Canada or finding another way to travel long distances--for instance, walking. After a bruising battle with a Canadian financier in the fall of 1999, Milton took over his principal competitor, Canadian Airlines, which was 25% controlled by American Airlines. He has been merging it into the world's 11th largest airline: Air Canada has almost 80% of the air-travel market within Canada and controls about 43% of the traffic between Canada and the U.S. The airline has plans to start a low-cost carrier in 2001 that...
...Milton is in the midst of what some experts call the most difficult airline integration in the history of North America. "Trying to improve service while merging the operations of Air Canada and Canadian Airlines is like attempting to douse a fire while an open pipeline of fuel is poured on it," says HSBC Securities analyst Ted Larkin. Air Canada, with a workforce of 23,000, and slightly smaller Canadian, which was bleeding $1.35 million a day, had "computer reservation systems that didn't talk to each other," says Milton, and workers accustomed to "beating each other to death." Milton...
...Milton won his prominence in a bareknuckle corporate brawl. Only a few weeks after assuming the presidency in August 1999, he was hit with a hostile takeover bid backed by AMR, parent of American Airlines. Milton won a court verdict reaffirming a law that said no single shareholder could own more than 10% of Air Canada, effectively scuttling the bid. Then, with backing from United Airlines and Lufthansa, Air Canada swallowed its competitor for a fire-sale $61 million. Milton summed up his business philosophy: "I don't mess around with other people, and I don't like people messing...
Some people think Milton's dislikes extend to any form of competition. When a small regional airline started up in eastern Canada, Air Canada responded last fall with sharply reduced fares on some routes. When the Competition Bureau, a federal consumer watchdog, ordered Milton to stop price cutting on five of those routes, Air Canada hit back with a legal challenge questioning the bureau's constitutional power to unilaterally restrict fare changes. The case is winding through a Quebec court. Air Canada dived into hot water again in October, when a corporate official sent voice-mail messages about the airline...
...Milton, who as a teen used to hang out near airports watching planes take off and land, has been in love with the airline business his whole life. The son of an international-business executive, he grew up in Hong Kong, Belgium, Britain and Singapore. After graduating with a management degree from Georgia Tech in 1983, he used $15,000 from his dad to help start a company that chartered planes to larger airlines. He sold out five years later and became an industry consultant. Four years after that, his Atlanta-based boss, Hollis Harris, was named Air Canada president...