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September 28, 1993 | From Times Staff and Wire Reports
President of SAS Resigns: Jan Carlzon stepped down after a dozen years as chief executive of Scandinavian Airlines System to work on forging an alliance of SAS, KLM, Swissair and Austrian Airlines. Carlzon will continue to represent SAS in negotiations toward establishing a four-airline joint holding company, called Alcazar, SAS said. The carrier immediately named Jan Reinas, president of SAS Norway, group president and chief executive until April, when he plans to leave SAS.
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BUSINESS
September 28, 1993 | From Times Staff and Wire Reports
President of SAS Resigns: Jan Carlzon stepped down after a dozen years as chief executive of Scandinavian Airlines System to work on forging an alliance of SAS, KLM, Swissair and Austrian Airlines. Carlzon will continue to represent SAS in negotiations toward establishing a four-airline joint holding company, called Alcazar, SAS said. The carrier immediately named Jan Reinas, president of SAS Norway, group president and chief executive until April, when he plans to leave SAS.
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BUSINESS
May 15, 1991 | ROBERT E. DALLOS, TIMES STAFF WRITER
Continental Airlines said Tuesday that it is negotiating with potential investors in an attempt to raise $600 million in new capital. The Houston-based carrier, which in December filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code, said new cash would help it emerge from bankruptcy court proceedings by the end of the year.
BUSINESS
October 24, 1990 | From Associated Press
Continental Airlines decided against filing bankruptcy papers that lawyers had hastily prepared over the weekend, but the debt-ladened carrier may still sell off some assets to raise cash, according to published reports. Unidentified sources quoted in today's editions of the New York Times and the Wall Street Journal said a team of lawyers worked through the weekend to prepare Chapter 11 papers to be filed in U.S. Bankruptcy Court on Monday morning.
BUSINESS
September 14, 1989 | ROBERT E. DALLOS, Times Staff Writer
Texas Air Corp. Chairman Frank Lorenzo insisted Wednesday that he was being unfairly vilified by labor unions and that he has no intention of quitting the airline industry. He also repeated his vow not to sell or liquidate Eastern Airlines.
BUSINESS
December 18, 1986 | NANCY RIVERA BROOKS, Times Staff Writer
Scandinavian Airlines System said Wednesday that it has placed a $1.4-billion order for 12 proposed MD-11 jetliners from McDonnell Douglas, apparently assuring the launch of the long-stalled program that will mean more than 6,000 new jobs to Southern California. With this order, a total of 26 of the successor to the DC-10 have been earmarked for production by Douglas Aircraft, a Long Beach division of McDonnell Douglas of St. Louis.
TRAVEL
February 19, 1989 | PETER S. GREENBERG, Greenberg is a Los Angeles free-lance writer
In this age of mergers, failures and consolidations in the airline business, do you ever wonder who really owns the airplane on which you're flying? The truth is that few airlines own their own planes. Most are financed--leased--because of the capital expenditures involved in buying new planes. For example, it would not be unusual to see a sign bolted to the inside of some cockpit doors that proclaims the aircraft is owned by a consortium of banks. So much for the planes.
BUSINESS
June 14, 1988 | From Reuters
McDonnell Douglas Corp. has won an order worth about $1.5 billion for up to 61 MD-80s to replace the short-haul fleet of the Scandinavian Airlines System, the companies said Monday. McDonnell said it also received an order from Thai International Air for four MD-11s worth up to $398.6 million. The MD-80 is a modern version of the DC-9 that SAS currently flies. The aircraft, to be delivered between 1990 and 1995, will be powered by United Technologies Corp.'s Pratt & Whitney engines.
BUSINESS
October 4, 1988 | From the Washington Post
Scandinavian Airlines System is negotiating to buy a stake in Texas Air Corp.--a deal that would make SAS the first foreign carrier to own an interest in a major U.S. airline. If the deal is consummated, it not only would provide a much needed boost for beleaguered Texas Air, but would also mark a new, international phase in the mergers and consolidation that followed U.S. airline deregulation.
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