Since the beginning of airline deregulation in 1978, U.S. airlines have engaged in several costly and sometimes disastrous battles over fares. Last week the skirmishing resumed as American Airlines slashed prices on more than 2,400 routes by as much as 70%. Within 24 hours, American's new Ultimate Super Savers prices were matched by United, TWA, Delta, Pan Am, Western, Northwest and Republic.
American's new fares take effect Feb. 18. The one-way fare from New York to Chicago, for example, will drop to $69, compared with the full rate of $268. New York-to-Los Angeles flights, which are $469 at coach fare, went...
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