Chances that travelers flying the North Atlantic on scheduled airlines will pay sharply lower fares this summer hit a hard downdraft last week. The U.S. Civil Aeronautics Board turned down proposals from British Overseas Airways, Lufthansa, Alitalia and Olympic Airways for new low fares between the U.S. and Europe. BOAC, for example, had wanted to charge only $179 for a New York-London round trip during the off season, and $290 during July. The fares would have been for a 14-to-45-day excursion booked 90 days before takeoff.
The CAB decision was welcomed by the U.S. transatlantic...
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