Word: spatere
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...traffic expanded by 7% in the first quarter, lifting the earnings of most competitors, American had virtually no increase at all. Investment analysts had earlier expected that American would earn $20 million or more this year, up from a $5.6 million profit in 1972. Last week Chairman George Spater said that a net loss for 1973 "now seems inevitable." American stock has skidded from a year's high of $25 a share in early January to $10.25 last week...
...empty seats, American continued to take delivery of new aircraft in hopes that a merger with Western Airlines would enable it to fill them up on popular runs to the Southwest sun country and elsewhere. Despite fervid lobbying, the Civil Aeronautics Board last July rejected the merger, and as Spater concedes: "We've had a big bad case of indigestion on those new planes...
Mating Season. American Airlines, which lost $26 million in 1970, made a small profit last year. The company could earn $36 million this year. One factor in the recovery is President George Spater's successful campaign to focus on the growing leisure market by picking up routes to Hawaii, the South Pacific and the Caribbean. Pan Am lost $48 million in 1970, and its future looked so bleak last year that the CAB's Browne raised the possibility of some kind of federal assistance for the line. Now Wall Street analysts figure that Pan Am will break even...
Muscular Giant. The American-Western merger was negotiated last fall by Spater and Kirk Kerkorian, the Western board chairman, more on the grounds of convenience than necessity or public interest. Spater contended, however, that the merger would generate $50 million in new annual profits-$22 million in increased revenues and $28 million in cost savings. Yet some CAB economists predict a $20 million burden of cost increases on the merged carrier...
...reversed. What neither the Federal Government nor the airlines themselves have yet produced is a viable overall plan for making sense of a business that remains as jumbled a historical hodgepodge as the nation's sagging railroad system. "Somebody ought to rationalize the route structures," American's Spater admits-but no one has begun...