AVIATION: Air- Fare Warfare

After more than a quarter-century of flying in tight formation, the 108 scheduled airlines that make up the International Air Transport Association are girding for their toughest dogfight. Solidarity started crumbling late last month when a dozen carriers began advertising $199 to $220 round-trip youth fares between the U.S. and Europe, lopping as much as $253 off regular peak-season "economy" prices. Now there are reports that the "big four"—Pan Am, TWA, Air Canada and Britain's BOAC—will quit IATA if the cartel does not approve even broader price reductions for people of all ages at its annual meeting this week...