AVIATION: Declaration of War

Pan American Airways last week made good on a promise. It slashed the New York-London fare from $572, one way, to $275, dropped the roundtrip fare to $495. Thus it became the first airline to set fares on a par with first-class steamer rates.

Down too went its transatlantic air-express rates, from $2.02 per pound to $1.17. Pan Am also shaved passenger rates on the New York -Lisbon run and on many a Latin American route. Signifi cantly, the drop in rates was greatest —as on the Atlantic routes — where the competition was keenest. Having sunk its knife deep...

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