The U.S. airline industry, which suffers periodically from financial turbulence, last week ran into a patch of especially rough air. Items:
> Splitting along party lines (three Democrats to two Republicans), the Civil Aeronautics Board rejected a merger proposal by Eastern and American airlines to form the nation's largest domestic airline. Says CAB Chairman Allan Boyd: "The risk of concentrating so much power in one airline outweighed the benefit the merger might have had for American and Eastern." The refusal left Eastern in a grave financial state. Faced with withering over-competition and crippled by a recent flight engineers' strike,...
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