As the eagles of the airline business wheel over the rich North Atlantic market, a tiny sparrow in their midst is flitting off with a beakful of their business. Icelandic Airlines has four vintage DC-4 Skymasters whose seven weekly flights between Europe and the U.S. are so jammed that the wait list runs clear into mid-October. Reason: while mounting costs force every other line to plug, for fare increases, Icelandic's rates are some $100 cheaper than those of its competitors, have pushed the lean little line from 400 passengers in 1952 to an expected 30,000 this year, with revenues of close...
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