NOT SINCE THE DAYS OF THE RED BARON HAVE THE transatlantic skies seen such a dogfight. The global consolidation of the airline industry is moving into a cross-border phase, led by the desire of American carriers to secure overseas markets and foreign airlines to buy stakes in some of the weaker U.S. operators. These initiatives have triggered a war of words between European and American transportation officials. In reaction to British Airways' bid to acquire a 44% equity stake in financially troubled USAir, a trio of American airlines has closed ranks to oppose the deal, unless they are granted greater access...
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