Word: pan
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Dates: during 1970-1979
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Summoning the Florida legislature into special session, Governor Reubin Askew proposed returning immediately to Eastern Standard Time in most of the state (the northwestern Florida pan handle is in the Central time zone). Said Askew: "Any amount of disruption in commerce would be small indeed when compared to the life of even a single child...
...profits. The carriers over the years have become overstaffed, overequipped and overcompetitive. The industry's average load factor over the past three years has been 52%, meaning that nearly half the available seats were unsold. Last year three of the eleven trunk lines-American, Eastern and Pan American-lost money...
...remain pessimistic. Even the new efficiencies cannot make up for higher costs and lower business resulting from the fuel shortage. Early last year jet fuel was selling for 110 to 140 a gallon. Now the carriers pay 500 to 600 a gallon, and the price is heading for 650. Pan Am, faced with day-to-day refueling crises, is getting offers from mysterious hustlers who want to sell fuel at up to 810 a gallon. A 10 rise in the price of fuel costs the industry $100 million a year...
...form of federal subsidies, some airlines face bankruptcy or nationalization. The CAB provides $67 million a year in subsidies to several regional lines, and it is authorized to subsidize any airline that operates hi the national interest and is in trouble. Likely candidates for such subsidies are Eastern, Pan American and TWA. In another attempt to meet rising costs, some lines may explore mergers and route consolidations this year...
...international competition, Parker's eights have had similar success, winning the European championship at Lucerne, Switzerland, in 1965, the Pan American Games in 1967 and international regattas in Egypt...