Iceland: Airborne David v. Goliath

Against the competition from more than 100 huge jetliners flown over the Atlantic by the world's leading airlines, tiny Icelandic Airlines has pitted only five oldfashioned, slow, piston DC-6Bs.

Yet while many big airlines are losing money on the North Atlantic run, Icelandic turns a handsome profit. Chief reason: its fares are so low that its planes fly with the highest load factor of any Atlantic carrier—80% v. 42% for Air France and 52% for Pan American.

Last week Icelandic moved to offer a little more speed along with the low fares. For $8,000,000...

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