Word: nicoll
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Dates: during 2001-2001
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...major airlines were in big trouble anyway," says Toby Nicol, a spokesman for cut-rate easyJet. "Now they're trying to wiggle out of playing by the rules." A competitor would say that, of course, but he has a point. Before Sept. 11, debt-burdened Swissair, which owned 49.5% of Sabena, was already suffering from a costly expansion strategy that had contributed to $1.7 billion in losses last year. Even far healthier BA had airline analysts worried before the attacks. It had embarked on a risky course to shift its business toward high-end flyers, cutting capacity while spending money...