The Globe

Share market suspended after 20% plunge

The all-share index fell 11% below its last close, and every share was paused for 15 minutes. Selling resumed, and the index ended 33% below its last close, a fall of 20% on the day. Trading was stopped until tomorrow.

The rout came a day after Alps Air, of Lyon, put the 33% of its shares held by its first investors on the market at $0.01 a share, a price that valued the airline at $150,000.

American Airlines founds OneSky alliance and orders 20 Boeing 727s

NEW YORK — American Airlines has founded the OneSky alliance. On the same day it ordered 20 Boeing 727-200s.

The New York carrier also announced a New York–Dallas service of 49 flights a week, starting on 16 March.

India and Pakistan close their skies to each other

Pakistan has closed its airspace to Indian airlines, and India has closed its airspace to Pakistani airlines. Flights between the two countries are banned. The closures follow the hijacking of an Indian Airlines aircraft to Lahore days earlier.

CityFly orders 20 Boeing 727-200s

TOKYO — CityFly has ordered 20 Boeing 727-200s.

Worldwide Express founded in Chicago

CHICAGO — A new airline, Worldwide Express, has been founded by Odyssey_fan and will fly from Chicago, home also to Sunset Vista. Its first route, Chicago–New York, opens on 26 March with 7 flights a week.

Aeroflot plans 42 weekly flights to Sochi

MOSCOW — Аэрофлот - Советские авиалинии (Aeroflot -Sovetskiye avialinii) will fly Moscow–Sochi 42 times a week from 15 April.

Sunset Vista beats forecasts eightfold as airlines report first quarter

CHICAGO — Sunset Vista earned $0.84 a share in the first quarter against the $0.10 analysts expected, beating them by 719%. Revenue was $38.6 million and profit $12.7 million.

American Airlines reported revenue of $102 million and a profit of $34.7 million, or $2.31 a share against an expected $2.00. Mountain West Airlines, of Denver, made $8.62 million on revenue of $28.6 million, or $0.57 a share against an expected $0.47. Jikar Air, of Auckland, earned $2.90 million on $11.2 million of revenue, or $0.19 a share against an expected $0.14. Alps Air reported revenue of $15.4 million and a profit of $3.60 million.

Smaller carriers fall short

HONG KONG — Tradewind Airways lost $179,000 on revenue of $112,000, against analysts' hopes of a profit of $0.01 a share. SKYPOL, of Warsaw, and Sans Airlines, of Dallas, had no revenue. Both still reported small profits, of $24,300 and $54,500 respectively, short of the $0.01 a share analysts expected.

Airlines to keep their books in home currencies

From today every airline and leasing company keeps its accounts, loans, fares and share price in the money of its home country, converted from dollars at the day's rate. Aircraft, fuel, leases and maintenance remain priced in dollars, so their cost will move with exchange rates. Wages and airport charges are paid in local money.

American Airlines carries 460,000 in April

NEW YORK — American Airlines carried 460,000 passengers in April on 2,914 flights, filling 98% of its seats. Analysts read the figures as pointing to quarterly revenue about 50% above their expectations.

seodongwoo airline lists at $259 million

PARIS — A year after its founding, seodongwoo airline has put the 33% of its shares held by its first investors on the market. At $17.26 a share, the listing values the airline at $259 million, the richest debut of the year.

Mekong Airways founded in Ho Chi Minh City

HO CHI MINH CITY — Mekong Airways, founded by Donut Man, will fly from Ho Chi Minh City, with $1.87 million from outside investors. It plans 7 flights a week to Hanoi and to Bangkok from 27 May, Bangkok being its first route abroad, and 7 a week to Phu Quoc Island from 25 May.

First Tupolev Tu-134A goes to Aeroflot

MOSCOW — Аэрофлот - Советские авиалинии has taken delivery of the world's first Tupolev Tu-134A.

American Airlines shares drop 15%

NEW YORK — American Airlines shares fell 15% to $21.73 as the market fell 6.0%.

seodongwoo airline cabin crew to strike

PARIS — Cabin crew at seodongwoo airline will strike for 3 days from 7 August.

Alps Air nearly doubles forecasts

LYON — Alps Air reported second-quarter revenue of $86.6 million and a profit of $18.8 million. Its earnings of $1.25 a share were 95% above the $0.64 analysts expected.

SKYPOL consolidates its shares

WARSAW — SKYPOL's shares stayed below the $1 minimum, so its board has consolidated them. Every 10 shares are now one, at zł 25. Shares left over were paid for in cash at zł 3 each.

The airline flew no scheduled flights this year.

Fanta's Air founded in New York

NEW YORK — A new airline, Fanta's Air, founded by KamaraM, will fly from New York, home of American Airlines. Outside investors put in $3.78 million.

American Airlines orders 20 more 727s

NEW YORK — American Airlines has ordered 20 Boeing 727-200 Advanced, adding to its earlier orders for the type.

Polish zloty revalued by 8.7%

WARSAW — One zloty now buys $0.2717, up from $0.25. Aircraft, fuel and leases priced in dollars cost Polish airlines less. Their fares and wages cost the rest of the world more.

Mountain West Airlines carries 237,000 in August

DENVER — Mountain West Airlines carried 237,000 passengers in August on 2,048 flights, filling 99% of its seats.

Aeroflot launches a wave of new routes

MOSCOW — Аэрофлот - Советские авиалинии will open ten new services this autumn. From Moscow it will fly to:

• Kazan, Yekaterinburg, Samara and Rostov-on-Don, 35 times a week each;
• Krasnodar, 42 times a week;
• Yerevan, Tbilisi, Baku and Almaty, 21 times a week each.

It will also fly St. Petersburg–Boryspil 14 times a week from 21 October.

GDAŃSK founded

GDAŃSK — A new airline, GDAŃSK, founded by David, will fly from Gdańsk. Outside investors put in $1.90 million.

Worldwide Express to fly to Amsterdam

CHICAGO — Worldwide Express will fly Chicago–Amsterdam 7 times a week from 27 October.

Sunset Vista misses forecasts

CHICAGO — Sunset Vista reported third-quarter revenue of $43.4 million and a profit of $12.6 million. Its earnings of $0.83 a share fell 14% short of the $0.97 analysts expected.

GDAŃSK announces Warsaw–Berlin flights

WARSAW — GDAŃSK will fly Warsaw–Berlin 7 times a week from 29 October and has launched a frequent-flyer programme. In an announcement on its new Warsaw hub, the airline claimed that its service would carry passengers from Warsaw on to West Berlin, the western half of a city divided since the war.

First Tupolev Tu-154 delivered to Aeroflot

MOSCOW — Аэрофлот - Советские авиалинии has taken delivery of the world's first Tupolev Tu-154, its second new Soviet type of the year.

Jikar Air ahead of forecasts

AUCKLAND — Jikar Air reported third-quarter revenue of $11.0 million and a profit of $2.59 million. It earned $0.17 a share against the $0.15 expected.

SilverSky founded in Buenos Aires

BUENOS AIRES — SilverSky, founded by Alan, will fly from Buenos Aires, with $3.80 million from outside investors.

Mountain West Airlines beats forecasts by 72%

DENVER — Mountain West Airlines earned $11.9 million in the third quarter on revenue of $43.3 million. Its earnings of $0.79 a share compared with the $0.46 analysts expected.

LADUN founded in Bucharest

BUCHAREST — A new airline, LADUN, founded by Anastasia Gheorghiu, will fly from Bucharest.

Azure Airlines founded in London

LONDON — Azure Airlines, founded by Alfie, will fly from London, with $3.80 million from outside investors. Its first route, London–Paris, opens on 10 November with 7 flights a week, linking it to the home city of seodongwoo airline.

kosnix Air founded in Amsterdam

AMSTERDAM — kosnix Air, founded by Kosnix, will fly from Amsterdam, which Worldwide Express began serving from Chicago last month. Outside investors put in $3.80 million.

Munich Airways founded

MUNICH — Munich Airways, founded by Daniel, will fly from Munich. Outside investors put in $3.81 million.

First Boeing 737-200C goes to Munich Airways

MUNICH — Munich Airways, founded only a week ago, has taken delivery of the world's first Boeing 737-200C.

Britain's fifth-freedom rights end

The United Kingdom's fifth-freedom arrangements with Austria, Belgium, Switzerland, Germany, Denmark, the Netherlands, Norway and Sweden have ended. Airlines from each pair of countries may no longer carry passengers between the other country and third countries. Among those affected are British airlines such as London's Azure Airlines.

SilverSky reaches Bariloche

BUENOS AIRES — SilverSky opened Buenos Aires–San Carlos de Bariloche today, with 7 flights a week.

LADUN closes

BUCHAREST — LADUN is winding down, closed by its owner six weeks after its founding. It never flew a scheduled flight.

Alterra Airway adds Anchorage and San Francisco

LOS ANGELES — Alterra Airway will fly Los Angeles–Anchorage 7 times a week from 11 January 1972, and Los Angeles–San Francisco 14 times a week from 18 January 1972.