The schedule of new transatlantic air fares drawn up by the International Air Transport Association last February became a scrap of paper last week. The Civil Aeronautics Board, which has the final word for U.S. airlines, refused to approve it.
CAB objected that the proposed rates had been set without reference to actual operating costs. They were also much closer to the high rates favored by the British than to the low rates U.S. lines had glowingly promised. In effect, CAB said what most U.S. airmen knew: I.A.T.A.'s cartel-like system of fixing fares would freeze them at a high level.
So present...
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