Air Transport World

European deregulation unlikely, according to BCAL's Thomson. (British Caledonian Airways' chairman Adam Thomson)

London--In a keynote airline industry speech to 400 members of the American Chamber of Commerce here, Siar Adam Thomson, chairman of British Caledonian Airways took an optimistic view of industry prospects, was pessimistic on the chances of deregulation in Europe, and accused British Airways of "creative accountancy" in preparing itself for privatization.

Thomson had his audience chuckling with his description of stages of economic decline: "A recession is when you have to tighten your belt; depression is whey you have no belt to tighten; when you've lost your trousers, you're in the airline business." But there is, he said, a "magnetic quality" about airline investment, with Wall Street in 1983 recording dealings of $1.1 billion in shares. "Nowadays," he added, "when an American airline man refers to the 'good book,' he is more likely to be thinking of Chapter Eleven." Jumping and jostling

The promise of improvement of 1983 is continuing through 1984. Deregulation in the U.S. has been a fascinating game to watch from the bleachers--especially to see the jumping and jostling when the deregulation ball was kicked into the laps of international spectators. …

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