Aviation: Fares Down, Passengers Up

The transatlantic airlines are flying higher now than at any time since they introduced tourist-class fares in 1952.

Next week fares over the North Atlantic will be cut 20% in both first class and economy—and for trips of 21 days or less, to as low as $264 round trip New York to Shannon. The response to the reductions has startled even the airline executives. So many passengers have already booked trips that Pan American World Airways estimates that revenues of the transatlantic lines this year will rise $500 million.

Compared with last year's reservations for flights from April 1 to...

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