Word: twa
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...storied Trans World Airlines, delivers US Airways into the arms of United and eliminates 15% of the competition in the marketplace. If the deal is approved, American, the No. 2 airline after United, will pay $500 million in cash and assume $3 billion in plane leases to acquire TWA, the No. 8 carrier, which landed in bankruptcy court last week for the third time in a decade...
...TWA, once owned by Howard Hughes and a pioneer of flying's early reputation for glamour and luxury, would disappear into American. But most of TWA's 20,000 employees, the majority of whom work out of the carrier's home base in St. Louis, Mo., would be retained. TWA is history in any event. The company was down to its last $20 million before the bankruptcy court allowed American to provide new financing...
Simple logic says the mergers will jack up ticket prices. American and TWA compete head to head on Caribbean routes, for instance, yet TWA has long relied on hefty discounts to fill its seats. American, on the other hand, has long employed "yield management"--software that continuously analyzes and adjusts ticket prices to maximize revenue per seat. Donald Carty, chief executive of American, calls TWA's broad discounts a "failing business model." American does not think it prudent to give money away. Says Carty: "Consumers should never expect those [prices] every...
...Sound like post-millennial paranoia? Don't be so sure. According to some industry experts, the latest airline news - that less than a year after United Airlines declared its intentions to swallow competitor USAirways, American is reportedly in talks to buy floundering TWA - points to a looming oligopoly and the disappearance of consumer options...
...Francis, the former NTSB official who headed the investigation, applauded the agency's work Tuesday and congratulated his co-workers for their years of work. He also effectively washed his hands of the inquiry, telling CNN, "Certainly, it's not for want of trying that [the cause of the] TWA [Flight 800 crash] hasn't been finally solved." That thought, and the additional safety items added since the crash, are about the only solace left...