Cellular spinoff finds success overseas; no. 6 in U.S., Airtouch Communications grows rapidly elsewhere
Article Abstract:
Airtouch Communications, the sixth largest US cellular telephone service provider, is capitalizing dramatically on international wireless markets despite only a sixth-place domestic ranking. Since 1991, Airtouch has gained 797,000 customers in 10 Eurasian countries. Germany, where it has partnered with Mannesman A.G., is especially lucrative. Airtouch's share of the German cellular market is valued at over $5 billion. Some analysts believe that Airtouch stock is considerably undervalued. Airtouch Communications was once part of the Pacific Telesis Group, recently acquired by SBC Communications. Airtouch leader Sam Ginn is the former chairman of the Pacific Telesis Group. A third of all people in the world have never placed a phone call, and wireless telephone services are much less expensive than twisted copper pair wiring in remote and inaccessible areas.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Island Nation Loses a Bridge As Philippine Airlines Fails
Article Abstract:
On Wednesday midnight, Asia's oldest airline company, Philippine Airlines (PAL) ended operation due to a protracted labor battle. Even the Philippine President Estrade was unable to solve the problems, which were compounded by the company's operational losses of $338 million in 4 years. Smaller carriers, Cebu Pacific and Air Philippines, will provide modest increase in flights. International carriers will probably offer more flights. The economic impact of PAL's end is a concern, as the airline previously provided 80 percent of all the country's airline services. Speculation about PAL's bankruptcy mention that Lucio C. Tan, owner of PAL, also owns the second-largest local creditor of PAL. Both Airbus Industrie and Boeing might suffer, as PAL ordered planes from these companies.
Comment:
Airline ends operation
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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