Eastern, Continental Slash Fares; Price Wars Anticipated
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NEW YORK — Continental and Eastern airlines, in an effort to hush rumors that airline consolidation will mean higher fares, today offered “the lowest fares in the sky” and touched off anticipation of price wars.
The new “MaxSaver” fare is as much as 40% cheaper than even the supersaver rates, but must be booked under a slew of restrictions, including a non-refundable payment at the time of reservation.
Among the bargain rates from New York are a $49 ticket to Chicago, $79 to Houston, $89 to Los Angeles and $99 to Denver.
News of the rock-bottom prices touched off a dip in airline stock prices on Wall Street as analysts anxiously awaited other carriers to react to the “MaxSaver” gauntlet.
Texas Air Corp. last fall bought Eastern, Continental, New York Air and People Express, making it the nation’s largest carrier. Continental, People Express and New York Air will be consolidated Feb. 1.
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