Word: cabs
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...until 1959. As they droned on, platoons of economists racked up 5,000 pages of testimony proving that 1) fares are now 9% lower than in 1949, while costs are astronomically higher, 2) the airlines cannot raise money to buy jet fleets. But all this failed to excite CAB. Not a single one of the five board members even bothered to show up at the hearings...
Last week this bureaucratic boondoggling angered the White House, which regards a commercial jet fleet as a transport reserve needed for national defense. It gave CAB a swift kick in the pants, told it, in effect, to give the lines immediate emergency relief. Promptly. CAB offered a 6.6% interim fare boost by a vote of three to two (Vice Chairman Chan Gurney voted against the boost on the ground that it should be 10%). If accepted, as expected, domestic trunklines will get a 4% raise, plus an additional $1 on each ticket, along with the hope that real relief will...
...down 55%. Deficits ranged from American's $1.9 million to Northwest's $247,000. The chief cause: while operating revenues rose 12% through November, expenses soared 17.9%. Nearly a year ago, when the airlines first began asking for an increase, they thought 6% would be enough. But CAB delayed so long that now some lines think they need as much...
...Looking in the other direction, lively little Alaska Airlines applied to CAB for permission to fly from Alaska to Irkutsk, Siberia...
STEEPER AIR FARES are almost assured for 1958. CAB's problem is when and how to grant raise without raising ire of Congressmen who opposed boost. Majority of board is convinced that present rate scale, little changed in ten years, cannot support lines...