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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Sep 16, 1986
Page
3
AP reports Texas Air Corp. announced plans to buy People Express Inc. for about 125 million dollars. The move signals a major consolidation in the airline industry with the deal pending regulatory approval.
Texas Air Corp. agreed to buy People Express Inc. for 125 million in stock and acquire Frontier Airlines assets for 176 million in cash and securities as part of a broader effort to dominate the industry. The deal would also include Provincetown Boston Airline and Britt Airways, with continued operations on former Frontier routes.
Washington AP reports that prospects for a Mideast peace conference are dimmed by Israel and the United States demanding Soviet participation conditions. Shimon Peres insists on Soviet diplomatic restoration and Jewish emigration rights, while Reagan vows to raise Soviet Jewry issues at talks. The stance narrows the chance for Soviet involvement.
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