Western Europe: Flying High on Their Own


Frightened by a severe slump in their business in the early 1960s, European airlines began negotiating a major merger in the hope of gaining strength in union. After four years of bickering over terms, that ambitious project has been all but scrapped. Chief reason: European carriers are suddenly flourishing on their own. Last year Lufthansa in creased its profits over the previous year by almost 500 times, to $9,230,000. Air France has flown 16.3% more passengers so far this year than last, and its overall revenues are up 6.1%. Sweden's SAS...

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