Business: Transatlantic Rate Cut

Pan American World Airways, which has been battling for cut-rate transatlantic tourist fares for more than three years, last week won a notable victory. Trans World Airlines, British Overseas Airways Corp., Air France and the CAB all announced their support of tourist rates beginning next spring. But there was no final agreement on the rates. Pan Am wants to cut the present $395 one-way fare to $225, with a $405 round-trip rate. The other airlines and the CAB want a $265 one-way fare and $477 roundtrip. The proposed rates would also cut 25% from...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!