Usair's European Squeeze Play
No one ever said Stephen M. Wolf doesn't know how to come out swinging. But seven months after the aggressive CEO took over the controls at troubled USAir, the biggest surprise has been his first choice of punching bag. While investors have expected a run at USAir's high-cost labor, Wolf has cozied up to USAir's unions. Instead, his first blow has hit British Airways PLC, its partner and erstwhile savior. In an unexpected move on July 30, Wolf filed an antitrust suit aimed at stopping a recently announced alliance that would link BA, which owns 24.6% of USAir, with American Airlines.
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