People in the airline business are well accustomed to turbulence, but last week they fastened their seat belts and reached for the air-sickness pills. In the wake of the proposed Texas Air-Eastern and TWA-Ozark mergers, everyone from chief executives to flight attendants was wondering nervously just how much those megadeals would shake up the industry. The already fierce competition in the skies is sure to become even more cutthroat. Many airlines may find it increasingly hard to turn a profit, and union members will face new threats to their high salaries. But air travelers, faced with the prospect of more and...
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