For more than a year, U.S. airline operators have been flying in a pilot's nightmare: the higher they flew, the closer they came to a crash. Though domestic-airline revenues rose to new records, the drag of faster-rising costs reduced profits to the point where net operating income dropped to $101 million in 1956, v. $123 million in 1955. Last March seven major airlines petitioned the Civil Aeronautics Board for a 6% "emergency" fare inr crease pending the outcome of a full-scale general fare investigation of their entire rate structure. Last week, in...
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