Word: round-trip
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After more than a quarter-century of flying in tight formation, the 108 scheduled airlines that make up the International Air Transport Association are girding for their toughest dogfight. Solidarity started crumbling late last month when a dozen carriers began advertising $199 to $220 round-trip youth fares between the U.S. and Europe, lopping as much as $253 off regular peak-season "economy" prices. Now there are reports that the "big four"-Pan Am, TWA, Air Canada and Britain's BOAC-will quit IATA if the cartel does not approve even broader price reductions for people of all ages...
...cost only $16 more to fly from the West Coast to Europe than to New York City. The price war is also bringing fares down to the level of those charged by the charter airlines. In response, at least one major charter carrier is planning to offer $100 round-trip flights from London to New York for "senior citizens"; the age limits are still uncertain...
...order to compete. Pan Am, the only U.S. carrier with direct service to Brussels, quickly followed Sabena and set an identical rate. Then the French government, fearing that the Belgian action would divert Paris-bound Americans to Brussels, promptly ordered Air France to introduce a $220 New York-Paris round-trip fare. This in turn permitted TWA, which flies into Paris, to do the same...
...week's end chiefs of most major European air carriers were imploring their governments to "order" new low fares. British Overseas Airways Corp. won approval of a $210 round trip between New York and London. Italy's Alitalia set a $199 New York to Rome round trip-887 miles farther than London-for $11 less. And Air France expanded the war to the West Coast by announcing a $362 round-trip fare from Los Angeles to Paris...
...pilots smuggle gold-which is in great abundance in Laos-from Vientiane to Hong Kong. The legal price differential is so great that if you buy a half-pound of gold in Laos, pay full duties on it, and sell it legally in Saigon you can pay for the round-trip airfare from Vientiane...