Word: panagra
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...American World Airways last week discharged some 5% of its 5,400 Latin American Division employees. Chief reason: "A runaway competitive situation in Latin America." Another carrier operating in Latin America, Panagra. last month asked the U.S. for a yearly $6,800,000 subsidy,* citing the drop in passenger loads (from 60% to 53%). Both Pan Am and Panagra blamed the fall in revenue on "the entry of a large number of foreign carriers into the area; the cut-rate fare policies instituted by many of these carriers...
Almost every Latin American country boasts its own airline, and some have two or three. Most of the carriers are not members-as are Pan Am and Panagra-of the International Air Transport Association, which taboos price warfare. The local airlines set fares as they please, often undercut Pan Am or Panagra by close to half. Samples: Guatemala's Aviateca charges $99 for a round trip between Guatemala City and Miami; Pan Am gets $147.60. I.A.T.A. fare for a Lima-Miami round trip is $473.40; Aerovias Panama Airways asks only $260. Aerolineas Peruanas sells a Santiago-Miami...
Fair Prospects. "Sure there's plenty of international competition," says Real-Aerovias President Linneu Gomes, "but we can beat it. We offer speed, service, safety and new planes." Real has built its fleet to 120 (v. Panagra's 19), and most of the other lines have big plans. The state-owned Argentine Airline is wrapping up a $28 million deal for six de Havilland Comet 4 pure jets to start 13-hour service between Buenos Aires and New York (almost a year before Panagra gets DC-8 jets on the same run). Varig has ordered French Caravelle jets...
...flying to Buenos Aires in 1948 and still gets a U.S. subsidy ($550,000 in the first half of 1957), may have to ask for more. Pan American's Latin American division, which in 1956 went off a subsidy that had been averaging $11 million a year, and Panagra, which went off subsidy at the end of 1954, may have to appeal again for aid from...
...Panagra I.A.T.A...