Word: cabs
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Already approved by the directors of both companies, the merger must await approval by stockholders and the CAB. But if everything goes well, two hard-flying airlines will be united...
With Expansionist Hunter in the pilot's seat, Northwest pushed westward to Seattle and Portland, hiked gross revenues threefold to $5,000,000, lifted profits from zero to over $400,000. Meanwhile Hunter made a long survey flight to Alaska, followed it with a CAB petition for a commercial route to Fairbanks, others to New York City and Washington. But the war froze these petitions in their pigeonholes, forced Airman Hunter to look for something else. He found it in a big Army contract to fly anything & everything from Minneapolis to Alaska...
...Hitch. Sense-making to Mid-Continent and Northwest, the merger may nevertheless wait a long time for CAB approval. Reason: CAB has frozen all major route applications for the duration, would probably ice a merger too. But canny Hunter can afford to wait-when & if he gets Mid-Continent and the proposed routes he will have a vast air net stretching from Washington to Alaska and from New Orleans to Winnipeg...
...flights between the U.S. and Latin America, will save 500,000-odd Pan Am-Panagra customers $1,250,000 yearly. Sample cuts: Miami to Buenos Aires $550 to $495; Miami-Lima $354 to $320; Miami-Bogota $213 to $183. The new rates will become effective whenever the airlines get CAB approval (probably two months...
Unlike most price-cutters, Pan Am and Panagra did not reduce rates to get more business-they already have more traffic than they can handle, practically all flights have long waiting lists. Instead they cut rates after CAB held a closed session with airline operators, broadly hinted the jam-packed U.S.-Latin American airlines were making too much money-especially in wartime. Next to get a similar hint will be U.S. domestic airlines, which hiked profits over 100% in the first nine months in contrast to a 30% decline in general corporation profits...