Rapid Descent by Barbara Sturken Peterson, James Glab

From the Publisher

When the federal government deregulated the airlines in the late 1970s, the new freedom was supposed to herald an era of competition that would result in lower airfares, more airlines, and increased benefits for air travelers. Instead, deregulation led to chaotic and ever-changing fares, an industry dominated by three giant U.S. airlines, and deteriorating service. In Rapid Descent, Barbara Sturken Peterson and James Glab, two veteran airline industry reporters, trace the unraveling of the airline industry during fifteen years of deregulation. The initial promise of deregulation - which led to the founding of the famous People Express and other maverick airlines - was soon undone, in part by chance events such as the air traffic controllers' strike in 1981. Large airlines created powerful computer reservation systems, hub-and-spoke route networks, and other innovations that allowed them to crush smaller rivals, a trend that snowballed into a wave of mergers and bankruptcies in the mid- to late 1980s. Informative and lively, Rapid Descent profiles many of the colorful characters whose names became synonymous with the airline industry, like Carl Icahn, the arbitrager who bought TWA and found out it was a lot harder to run an airline than it was to acquire one; Bob Crandall, the hard-charging executive who piloted American Airlines to the top of the competitive heap; and Frank Lorenzo, the former head of several airlines, whose highly publicized battles with labor earned him a reputation as America's most hated boss. Sure to be of interest to anyone who has ever found himself at the mercy of the airlines, Rapid Descent tells the story of how a well-intentioned policy went awry.

Publishers Weekly

Travel reporters Peterson ( Travel Weekly ) and Glab (former managing editor of Travel Management Daily ) use their knowledge of and contacts in the airline industry to provide this account of what must be one of the most mismanaged operations in America. How else could one explain the fact that, according to the authors, U.S. airlines lost $6 billion in 1990 and 1991, a sum greater than the profits earned by the airlines since commercial aviation was launched in the 1920s. In examining how the industry got itself into such a mess, the authors argue that while deregulation put in motion the events that would shape the future of the airlines, myriad other factors played parts as well. The firing of the air traffic controllers during the Reagan administration, the downsizing of the Federal Aviation Administration and, most importantly, the merger and acquisition craze of the 1980s were some of the events that helped create a financially troubled industry. The book is enlivened by descriptions of the colorful men who ran and still run the airlines and although the authors identify no clear heroes, there are plenty of villains, most notably Frank Lorenzo and Carl Ichan who the authors suggest ruined Texas Air (comprised of such subsidiaries as Continental and Eastern Airlines) and TWA, respectively. Those who are interested in corporate wheeling and dealing will find this an enlightening and enjoyable read. Photos not seen by PW . (May)

Library Journal

Instead of increasing competition, lowering costs, and improving service, the 1978 airline deregulation resulted in poor service, a confusing array of ticket prices, questionable safety, and fewer airlines. United, American, and Delta emerged as the deregulation winners; losers included Pan Am, Eastern, Braniff, People's Express, and Midway. Thoroughly researched and well written by experienced writers on the airline industry, this work paints colorful portraits of the airlines' prominent figures, including Bob Crandall of American and Carl Icahn of TWA, as it assesses the consequences of deregulation. There is also some discussion of the impact of Sabre (American's computerized reservation service), frequent flyer programs, super-saver fares, wage scales, and international competition on the industry. This is solid reading about the industry, politics, and business; highly recommended.-William A. McIntyre, New Hampshire Technical Coll. Lib., Nashua

BookList

A number of recent books have profiled the troubled state of various airlines. All seem to allude to disaster, with titles warning of turbulence, free-fall, flying blind, tailspins, or being grounded. No exception, this book considers the effects of airline deregulation. Previous works that have looked at this aspect of the airline industry have been academic in their analysis, but this colorful, popularly written account explains why service is so bad and fares are so high and so confusing. Writers who cover the travel industry, Peterson and Glab provide a recent history of the business of air travel, with all its acrimonious labor disputes, bankruptcies, bitter buy-outs, hopeful start-ups, and big-shot operators.

Booknews

Airline industry reporters trace the unraveling of the airline industry during fifteen years of deregulation. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

• ISBN: 0671760696
  
• ISBN-13: 9780671760694
• Format: Hardcover, 352pp
• Publisher: Simon & Schuster Adult Publishing Group
• Pub. Date: May 1994