Word: travelers
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Dates: during 1990-1999
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...graduated from Yale in 1921 and worked briefly on Wall Street but got thoroughly bored. Planes fascinated him, though. Trippe was convinced that the future of travel was in the air. With an inheritance, Trippe began a business with Long Island Airways in New York, a taxi service for the well-heeled. When that failed, he raised money from some wealthy Yale pals and joined Colonial Air Transport, which won the first U.S. airmail contract, between New York City and Boston. That same crowd liked to play in the Caribbean (excellent choice), where he created Pan American Airways Inc. from...
Before anyone else, he believed in airline travel as something to be enjoyed by ordinary mortals, not just a globe-trotting elite. In 1945 other airlines didn't think or act that way. Trippe decided to introduce a "tourist class" fare from New York to London. He cut the round-trip fare more than half, to $275 ($1,684 in today's dollars, which makes current pricing a bargain, right?). This went over like a lead balloon in the industry, where air fares were fixed by a cartel, the International Air Transport Association; it didn't want to hear about...
...relentless Trippe had the big idea: he reasoned that mass air travel could come to the international routes only with a larger airplane--a much larger airplane. Trippe put the notion to his old friend Bill Allen, the boss of Boeing, saying he wanted a jet 2 1/2 times the size of the 707. It was a staggering request given the development cost of the 707. And Trippe didn't stop with size. Pam Am was operating the 707 with a seat-mile cost, at best, of 6.6[cents]. Trippe set for Boeing the goal of reducing that...
...creator of the 747, Trippe gave us the world's traveling machine. I launched Virgin Atlantic in June 1984 with 747s at the point when it was really shrinking the world and air travel was truly democratized, as Trippe intended...
Trippe bought too many 747s in the early 1970s. A world oil crisis hit airline travel hard, and his business never recovered. Boeing itself almost went belly-up because of the cost of launching...