Keeping Fares Aloft.

The article reports on the proposal from British Overseas Airways Corp., Lufthansa, Alitalia and Olympic Airways SA for new low fares for transatlantic flights between the U.S. and Europe. However, it notes that the proposal to charge only $179 for a New York-London round trip during the off season, and $290 during July has experienced a downdraft as the U.S. Civil Aeronautics Board (CAB) turned it down. On the other, the CAB's decision was welcomed by the U.S. transatlantic carriers, Pan American, Trans World Airlines Inc. (TWA) and National Airlines Inc., which contend that they cannot compete with the fares proposed by the subsidized European airline companies.