Word: sahara
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...advisers to royalty, Popes and political VIPs. But during the Nazi occupation of France, the Jewish family saw its business all but ruined. As head of the powerful Paris office after World War II, Baron Guy de Rothschild built shiny new headquarters, diversified investments (IBM, oil digs in the Sahara), nurtured political connections and modernized and revived the empire...
...result: consolidation amid plenty. In March the government approved a long-planned merger between state-owned carriers Air India and Indian Airlines. Meanwhile, Jet Airways, the country's largest full-service carrier, is buying rival Air Sahara for $340 million and, perhaps more important, more gates at congested airports. The mergers are "an attempt by players to basically get some kind of stability into the market," says Kapil Kaul, New Delhi--based CEO for India and the Middle East at CAPA. "What we're seeing now is sanity beginning to prevail...
...result: industry consolidation amid plenty. In March, the government approved a long-planned merger between state-owned carriers Air India and Indian Airlines; meanwhile, Jet Airways, the country's largest full-service carrier, is buying rival Air Sahara for $340 million. The mergers are "an attempt by players to basically get some kind of stability into the market," says Kapil Kaul, New Delhi-based CEO for India and the Middle East at CAPA. "There's been a massive induction of capacity over the past few years. What we're seeing now is sanity beginning to prevail...
...million a year. Similar competitive advantages are being sought by Jet Airways. Jet became India's most successful airline after launching in 1993, but in recent years it has lost market share to low-cost upstarts like Air Deccan, IndiGo, GoAir and SpiceJet. Merging with Air Sahara will give Jet 27 additional aircraft and, perhaps more importantly, more gates at congested airports...
...devastation of Darfur highlights the potentially catastrophic effects of climate change on societies across Africa. The U.N. estimates that the lives of as many as 90 million Africans--most of them in and around the Sahara--could be "at risk" on account of global warming. Many of Africa's armed conflicts can be explained as tinderboxes of climate change lit by the spark of ancient rivalry. In Somalia, nearly two decades of anarchy have been exacerbated by eight years of drought. In Zimbabwe, relief agencies say President Robert Mugabe's disastrous rule is being overtaken by an even greater catastrophe...