Laker Airways collapsed into bankruptcy in 1982, and the causes of its demise are still debated. Among the no-frills successors are some of the most profitable airlines of recent years, ...

‘Look at Laker Airways, competition pays,’ she would say. But, of course, as soon as the heat was on, she got me kicked out.” READ MORE: Vintage photos highlight what life was like on ocean ...

1966 Laker Airways is founded, initially as a charter airline 1971 Southwest is founded in the US, adopting the Laker model to considerable success 1978 Flies first transatlantic flight; seats ...

Laker Airways was launched in February 1966 as a "contract carrier" to the package holiday trade. It was a new concept, requiring tour operators to guarantee to fill Laker Airways' planes for an ...

'Look at Laker Airways, competition pays', she would say. But of course as soon as the heat was put on, she got me kicked out." Sir Freddie, who was knighted in 1978, lived in Florida.

Then, in February 1982, Laker Airways abruptly went into receivership with debts of £264 million. The collapse was so sudden that its flights were turned round in mid-air.

Laker Airways. 1982. British entrepreneur Sir Freddie Laker pioneered cheap air travel with his Skytrain to the United States in 1977. His first London-New York flight was a third the cost of ...

Laker Airways offered cut-price air flights to New York and other US cities. Not only had he delivered on his boast of becoming a millionaire, but as the 1980s dawned, ...