TITLE

A NEW TAKEOFF FOR INTERNATIONAL AIR TRANSPORT

AUTHOR(S)
Lowenfeld, Andreas F.; Bundy, William P.
PUB. DATE
October 1975
SOURCE
Foreign Affairs;Oct75, Vol. 54 Issue 1, p36
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article examines the overall structure of international agreements governing the airlines of the world. The importance of aviation to aviation to the reconstruction of a peaceful world was recognized by the allied powers while World War II was still in progress. In May 1975, 31 scheduled airlines--many represented by persons who had been observers or delegates at the 1944 international conference on civil aviation--assembled in Havana, Cuba to organize the International Air Transport Association (IATA). The first assumption to be shattered was that the scheduled carriers assembled in IATA could control fares indefinitely. Among the European countries, several considered the idea of limiting or controlling charters--which were nowhere provided for in the postwar agreements--but as long as all the European countries were not united, only those countries that could count on a separate and distinct market, such as Israel, were able to avoid the charter problem. After arguing unsuccessfully to the Civil Aeronautics Board that air travel was all one big market and that therefore expanded charter authority would be largely diversionary, the scheduled international carriers took the opposite approach in their own pricing policy. Pan American World Airways, long the pioneer and pacesetter in routes and equipment, lost over $80 million in 1974, its sixth straight year of massive financial reserves, and was forced into increasingly complex and burdensome credit arrangements which by their size alone lose their character as secured transactions.
ACCESSION #
4852774

 

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