They have suddenly become the airline industry's most surprising partners. Frank Lorenzo, chairman of Texas Air, oversees two carriers -- Eastern and Continental -- that are plagued by union strife, deep operating losses and sloppy service. Jan Carlzon, president of Scandinavian Airlines System, pilots a peaceful, profitable, smooth-running fleet. Yet last week the two men shook hands on a deal billed as the industry's first global alliance among major international carriers. For up to $50 million, SAS will buy a 10% stake in Texas Air and gain greater access to the U.S. market by leasing the rights to three of Continental's...
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