Word: transports
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Dates: during 1970-1979
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...recent newspaper ads, that was the provocative sales pitch for the Concorde, the supersonic transport developed by Britain and France at a cost of nearly $3 billion. Indeed, the sleek, needle-nosed aircraft can fly 1,400 m.p.h., twice the speed of sound. It cuts trans-atlantic air travel from seven hours to 3%, and can lower the time for a San Francisco-Tokyo run from 11% hours to seven. But the Concorde ads may be prematurely optimistic. The plane has not yet received permission to serve U.S. airports, and unless it does, Franco-British dreams...
O.T.C. represents a long-sought liberalization of the Civil Aeronautics Board's charter rules-as a CAB spokesman puts it, "the most significant step the agency has ever taken in regard to charter transportation." The change, approved in September, allows the vacationer to choose between dozens of destinations at a price that includes air fare, hotel room, ground transport, taxes and tips. And no longer does the traveler have to belong to a so-called affinity group, such as a club or union, to qualify for the reduced rates. The new package is often less than the price...
...example, the new chief of state-owned British Airways is Sir Frank Mc-Fadzean, the former chairman of the Shell Transport & Trading Co. Further, the nationalized industries are being encouraged to bring prices in line with production costs; the Electricity Board, a state utility monopoly, has been permitted a 40% rate hike. British Steel Corp...
...even economic. Now that average wellhead prices are above 50? per 1,000 cu. ft., the value of the new find is at least $500 million per trillion cu. ft. in Alaska, and perhaps three times that much delivered to the consumer. Thus money can be raised to transport North Slope gas. Indeed, two competing proposals-each of which would rank as among the very biggest private construction projects in history-have already been developed by competing energy companies...
...while it looked as if it would be the worst Christmas ever for air travelers. Two major airlines-United and National, which together carry 28% of the nation's air traffic-were grounded by strikes, and their absence tipped the holiday-choked U.S. air-transport system into near chaos that meant frustrating delays and disappointments for thousands of air travelers. Suddenly, at week's end, there was hope that United and perhaps even National might be flying again by Christmas. Even so, strike-caused snarls were likely to plague travelers for a few more days...