Word: transoceanic
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...which is on record as favoring a good deal of competition among U.S. flag lines on the transocean airlanes, must approve the deal. So must President Truman. The merger is likely to be fought, not only by T.W.A., but by the American Export (steamship) Lines, Inc. American Export started American Overseas in 1937 to buck Pan Am, which was cutting into the line's Mediterranean tourist traffic. As American Export still has a 20% interest in American Overseas, it can wage a strong fight against the merger. American Export's Vice President John Slater has already resigned...
...Transocean thinks there is a different remedy. It feels that the scheduled lines could get more business if they knew how to go after it. Says Nelson: "We have the know-how, [that's why] we have more business than we can handle...
...Starting an airline for Pakistan between Karachi, Colombo, London and Singapore. Transocean is buying the planes in the U.S., training Pakistan crews at Oakland, and, while they are getting airborne, will fly the routes with its own planes and pilots. Transocean...
...think." Flying for United, Nelson thought the airlines were overlooking too much contract business. After the war (in which he served as civilian pilot in the Air Transport Command), he and 14 other pilots rented twelve surplus Army planes and later raised $140,000 to form Transocean. Nelson still spends most of his time piloting Transocean planes (his wife, a former United Air Lines stewardess, still occasionally flies with him, as stewardess). On his flights he keeps a sharp eye out for new business; so do his pilots. One recently took off with a load of Army supplies for Germany...
Cash & Carry. Such hard selling accounts for Transocean's gross of $800,000 every month and net of $268,746 so far this year. It has also given Transocean a black mark with the Civil Aeronautics Board. CAB thinks that Transocean has stepped up its domestic and transatlantic flights to a point where it is in direct passenger competition with the hard-pressed scheduled lines. CAB will shortly hold hearings to see if Transocean should reduce its services...