Congress Conducts Hearings into Airline Consolidation; Jet Acquisitions Offers to Purchase TWA and Retain it as an Independent Airline.Business Editors SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Feb. 8, 2001 Congressional hearings into airline consolidation Tuesday included comments by several national airline executives and congressional leaders who indicated concern about increasing consolidation in the airline industry. Numerous concerns were voiced about the anti-competitive and anti-consumer environment being created by current and proposed consolidations (e.g. the potential Delta and Continental merger and the potential sale of Trans World Airlines Trans World Airlines, commonly known as TWA, was a major American airline company that was acquired by American Airlines in April 2001. For many years it was headquartered at the Kansas City Downtown Airport, as well as midtown Manhattan in New York City. assets to AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. ). Below are quotes from the Judiciary Committee Judiciary Committee may refer to:
Jet Acquisitions Group Tuesday announced its intent to bid for TWA TWA Time-weighted average, see there and to rebuild it as a viable, highly competitive independent airline. Stanford E. Lerch, a spokesman for Jet Acquisitions said Tuesday: "Our group is adamant that TWA should be preserved as an independent and financially viable airline which will provide stiff competition to other airlines and more choice for airline travelers. "Our plan will not only put TWA back on sound financial footing but also will include the kind of capital needed to expand TWA and provide new advancement opportunities for these fine workers." Lerch is a principal in the Arizona law firm of Lerch & DePrima and was previously involved with bankruptcy filings by Continental Airlines and America West Airlines America West Airlines was one of the United States' ten major airlines. The airline was based in Tempe, Arizona, and is now a part of US Airways Group. At the time of its integration into US Airways, the airline maintained two hubs, one at Phoenix Sky Harbor International . Jet Acquisitions intends to submit its bid by the court-imposed deadline of Feb. 28. Quotes from the Judiciary Committee Hearing on Airline Competition "Airline Consolidation: Has it Gone Too Far?" February 7, 2001 -- Senator Patrick Leahy, D-VT, ranking member In United States politics, the ranking member or ranking minority member is a member of a congressional committee from the minority party, frequently the member with the highest seniority. , Senate Judiciary Committee: "As I have pointed out in the past, control of landing and takeoff slots and control of gates by just two major airlines -- United and American -- can become a stranglehold on competition on the East Coast." -- Senator Mike DeWine, R-OH R-OH Alcohol (chemistry) , chairman of the Antitrust, Business Rights and Competition Subcommittee: "The clear winner in airline consolidation seems to be one or two giant airlines, with the big loser being the American consumer." Note to Editors: Full text of articles available upon request. |
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