Laker's Lament

Pan Am cuts fares too

The proudest boast of Britain's Sir Freddie Laker is that he made transatlantic air travel affordable to the masses. For instance, his walk-on Laker Skytrain service from New York City to London costs only $250 one way, less than half of what most other airlines have been charging for even their economy-class tickets. But suddenly, Sir Freddie finds that he is facing stiff competition from one of the very airlines that his cutthroat pricing policies had siphoned business from in the first place: Pan American World Airways. Under its new chairman, C. Edward Acker, the loss-plagued air...

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