Word: sabena
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Dates: during 1970-1979
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...incitement to youthful wanderlust this year is the greatest price-cutting war in airline history. It has created youth fares so enticing that the youngsters can hardly afford to stay home. Ever since Belgium's Sabena, whose transatlantic 747s had been running only 11% full, offered a $220 round trip to Belgium for almost anyone under 30, other lines have rushed to meet or beat that bargain. A youth-fare passenger on Sabena can fly only to and from Brussels, but on some other lines he can now mix and match. Pan Am. for example, allows a person...
...agreed upon unanimously by the 108 members of the International Air Transport Association (IATA), with the result that the least efficient, highest-cost carrier sometimes vetoes lower fares. The only exception to the unanimity rule occurs when an airline is "ordered" by its government to make a fare change. Sabena recently used that loophole to introduce the youth fares...
...cutting started two weeks ago when the Belgian government ordered its state-controlled Sabena airlines to adopt a new "student fare" of $220 round trip between New York and Brussels. The action, an ingenious ploy to lure passengers to Sabena, has brought price competition to the cartelized International Air Transport Association. Like all members of IATA, Sabena is not normally permitted to raise or lower fares unilaterally-except in response to government orders. The rules also permit other airlines that fly the same routes to adopt similar prices in order to compete. Pan Am, the only U.S. carrier with direct...
...Austrian, which is 98% state-owned, has been a losing investment during most of its 13 years of existence and has dropped a total of $40 million. It provides a daily service to New York by leasing half of the cabin of an aircraft flown by Belgium's Sabena. By contrast, Swissair is 70% privately owned, flies to 56 countries and has not lost money since 1949. Last year it earned...