BUSINESS
By New York Times News Service | January 12, 1993
LONDON -- After two years of intense feuding with Richard Branson's Virgin Atlantic Airways, British Airways admitted yesterday that it had made improper attempts to undermine its upstart rival.British Airways agreed to settle the case by apologizing to Mr. Branson and paying him and his company $945,000 in damages. It also agreed to pay all court costs stemming from a suit brought by Mr. Branson, estimated at $3 million.In agreeing to settle a libel case brought by Mr. Branson, one of Britain's wealthiest and best-known entrepreneurs, British Airways said an internal investigation had found "incidents involving our employees which we accept were regrettable and which gave Richard Branson and Virgin Atlantic reasonable grounds for concern."
BUSINESS
By Suzanne Wooton and Suzanne Wooton,Staff Writer | April 27, 1993
British Airways PLC announced yesterday that it would purchase an additional $86.3 million of USAir Group stock, giving the Arlington, Va.-based airline its second major infusion of cash since its alliance in January with the profitable British carrier.In connection with USAir Group's planned sale of 10 million shares of common stock, British Airways said it would exercise its option to purchase a new series of preferred stock."British Airways' decision to exercise its right is confirmation of its confidence in the future of USAir and the value of the new alliance," said Marge Vodopia, a spokeswoman for British Airways in New York.
BUSINESS
By Suzanne Wooton and Suzanne Wooton,Sun Staff Writer | February 26, 1994
WASHINGTON -- USAir Chairman Seth E. Schofield charged yesterday that the U.S. government is holding USAir hostage, using its alliance with British Airways as a bargaining chip in the ,, on-again, off-again bilateral talks with the United Kingdom.In three weeks, the U.S. Department of Transportation is expected to decide whether USAir and British Airways should be allowed to continue linking flights, under a process known as "code-sharing."Code-sharing allows passengers traveling on both airlines to buy one ticket and have their bags transferred automatically just as if they were flying one airline.
BUSINESS
By Tom Belden and Tom Belden,Knight-Ridder News Service | March 2, 1992
With the consolidation of the U.S. airline industry almost complete, the North Atlantic is now the industry's hottest competitive battleground, and new marketing schemes to tap into the business seem to pop up weekly.The latest are from the two biggest European airlines.British Airways, trying to hang on to customers it has worked hard to attract in recent years, last week set up its own frequent-flier program and cut or changed its ties to the programs of its biggest two competitors, American and United.
BUSINESS
By New York Times News Service | March 13, 1993
WASHINGTON -- Transportation Secretary Federico F. Pena has recommended approval of a $300 million investment by British Airways PLC in USAir Group Inc., aviation specialists said yesterday.The White House has not made a final decision, they said, but was believed to be leaning toward approval.The proposed deal has caused considerable controversy over the extent to which foreign airlines should be allowed to own and control American carriers, which have lost $10 billion in the last three years.
BUSINESS
By Suzanne Wooton and Suzanne Wooton,Sun Staff Writer | May 23, 1995
British Airways announced yesterday that it was reluctantly making a $200 million provision against the value of its investment in the financially troubled USAir Group Inc.The London-based airline, which bought its 24.6 percent stake in USAir more than two years ago, said changes in both U.S. and British accounting rules forced it to set aside the funds, valued at half the carrier's investment. Even so, British Airways officials emphasized their confidence in USAir."We have every confidence that USAir is going to succeed in their cost-cutting programs and the various elements they have to do to get back on the road to profitability," said John Lampl, a spokesman for British Airways in New York.