AIRLINES: Allegheny's Ascent

Allegheny Airlines sounds like the name of a puddle-hopping carrier that serves a mountain range in Pennsylvania. But to the heads of the nation's major trunk lines, Allegheny appears as a fire-breathing imperialist swallowing up lesser lines and challenging the giants for airspace. Though it is still classed as a regional carrier, Allegheny in the past five years has grown to become the sixth largest airline in the U.S. in passenger traffic. Its revenues have nearly quadrupled to $265 million, and profits have risen to $6,000,000 last year from a loss of $5,000,000 in 1967. The acquisition of the financially...

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