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Economy / Airline Squeeze #26787

ABC Evening News for Wednesday, Jul 18, 1973
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(Studio) Airlines caught in dollar squeeze just as tourists planning to vacation in Europe.
REPORTER: Harry Reasoner

(Kennedy Airport, New York) Should have been big year for airlines, but people not traveling. Every 747 jet that's not filled means more losses. Transatlantic carriers worst hit because of fewer tourists abroad. Pan American,American, United, Trans World Airlines, Inc. (TWA) lost millions during 1st 5 mos. Europeans find money more valuable so they fly to United States to vacation. Airlines say consumer uncertainty reason for less travel. Transatlantic flights cut cost almost 1/2 to lure more customers. Airlines say inflation biggest concern since air travel considered luxury. If flights don't pick up, costs to go up.
REPORTER: Jules Bergman

Reporter(s):
Bergman, Jules;
Reasoner, Harry
Duration:
00:02:20

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