Word: transatlanticism
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Catering to premium-class travelers is not new. Lufthansa, Swiss, KLM, Alitalia and others have flown smaller aircraft for that purpose on trade routes such as Stuttgart to Detroit. What's new is the leap by private investors into the transatlantic market. They are raising capital, buying planes and negotiating...
The timing couldn't be better, as air travel is approaching pre-9/11 levels. Moreover, U.S. financial houses are rapidly expanding in London, and the merger wave is in full bloom in Europe. "I'm surprised that EOS and MAXjet are still with us," says Andrew Lobbenberg, a transport...
For now, the transatlantic market, buoyed by corporate travel, can keep a lot of planes in the air, but should the traffic slow, the incumbents could always resort to price wars, a tactic they've used in the past to shoo away upstarts. The upstarts, on the other hand, need...
By comparison with recent years, those figures are measly for the U.S. - but unusually robust for the Europeans. Central banks on both sides of the Atlantic are reacting differently to the prospect. In Frankfurt, the European Central Bank is continuing to raise interest rates - the next hike is widely expected...
How tough is its fight in Afghanistan? Tougher than most thought it would be when NATO first deployed forces in August 2003 to help the nascent Afghan government maintain security. "If we fail in Afghanistan it could be the end of the alliance," says Ronald D. Asmus, director of the...