Word: twa
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Dates: during 1950-1959
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...American, TWA and a large group of farsighted smaller lines argued for the abolition of the tourist fare and adoption of new worldwide economy fares 12% to 15% below the present minimum rates. Such a "two-tier" fare system was blocked by Britain's big BOAC, which fought for a "three-tier" system (economy, tourist, first class) with the lowest fares pegged as much as 20% below tourist rates. Other lines felt that fare schedules are already complex enough, gave the British plan no support. Ranged against any immediate fare cut were some of the small national flag airlines...
...Delta, which put it in service from New York to Atlanta, got the jump on its chief competitor; Eastern Air Lines will not start jet service until January. For United, the coast-to-coast nonstop service came months behind the 707 flights of its chief competitors, American Airlines and TWA...
NONSTOP JET FLIGHTS to Europe on scheduled basis will be started by Pan American in mid-October and TWA in November, with new, intercontinental Boeing 707s...
...TWA still has problems. Its international division, which does not yet have jets, is expected to operate at a loss this year. Thomas denies that TWA is about to sell the overseas business, an industry rumor prompted by a plan to transfer to Pan American six long-range Boeing jets (cost: $40 million). Thomas has found that one 707 will do the work of three piston planes (instead of two, as originally expected), is willing to sell to Capital Airlines six Convair 880 medium-range jets, on order for TWA. The sale would relieve TWA's eccentric owner, Howard...
September Deadline. So far, TWA's 14 Boeing 707s are being operated on a stopgap, short-term leasing arrangement with Hughes Tool Co. Hughes will be pressed to decide by Sept. 30, when the lease arrangement expires, if he will raise the money to complete payment on the jets by a major refinancing of TWA or by other means. Whatever the choice, Hughes and TWA are in a far stronger position than they were eight months ago, when it looked as if Hughes might be forced to give up control of part of his holdings to raise money. Says...