Flying Tiger & Slick

After six months of study, the CAB last week unanimously approved the merger of the nation's two biggest all-freight air carriers, Flying Tiger Line and Slick Airways. Despite loud protests of other airlines. CAB said that the merger would not "result in a-monopoly or ... jeopardize other air carriers."

The new company, to be known as Flying Tiger-Slick Airways, will be the world's biggest air-freight carrier, with a fleet of 60 planes, assets of about $22 million, and approximately 46% of the U.S. cargo business. Revenues of the two companies have been running at the combined rate of $36 million a year. The merger, according to Flying Tiger President Robert W. Prescott, who will run the new company, should result in the saving of some $750,000 by eliminating duplicate facilities. Said he: It is "a major step toward the creation of a strong, independent branch of the air-freight industry."

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