Jetrader - March/April 2013 - 14

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business other than through the consistency
of your product.

the status quo. We’re evolving from that
to a consistent marketplace.

JT: How do you think the American
Airlines and US Airways merger would
affect the airline market?
GB: I think it would be a positive for the
marketplace and would take some variability
out. The three would be about the same
size (United, Delta and American). If you
look at the last decade and all the ups and
downs and bankruptcies, you can’t vote for

JT: What is your view of the airline industry today and where do you think it is
headed?
GB: It is vital to the economy. If you
look throughout history at the cities that
have grown, whether it was sailing ships
in Athens or trains in Chicago and Atlanta,
it is the transportation hubs that enjoy
the growth. Airlines are essential to the

economic growth of a city, whether it is
Dallas, Houston or Chicago.
Cities that enjoy the best transportation enjoy the best economic growth. They
have companies that want to locate to
that city to take advantage of the better
transportation. It is integral to the growth
of all economies—not just our own but
the world. You can see what the Middle
East is doing throwing their money at the
marketplace and causing Qantas and other
international airlines like Air France to have
to jump not only at the product, but at
the pricing. It’s a global business and they
can compete from Abu Dhabi just as well
as from London.
JT: How does the U.S. market fare compared to airline markets around the
world?
GB: It’s the most valuable market
obviously. That’s why everyone wants to
come here. That’s why you’ll always hear
proponents of globalization. The Singapore
Airlines of the world want to be able to
ﬂy Los Angeles to New York because it is
a rich market. In return, what do we get?
Do we get to ﬂy all around Singapore?
United States is a very wealthy market.
If you are a small airline in a place like
Czechoslovakia, what would be your ﬁrst
destination in the United States? It would
be New York because of the money in New
York. Of course you have to have ﬂights to
the United States if you want to compete
globally, no matter where you are.
JT: What’s keeping you busy during your
retirement?
GB: I work as a contributor to CNBC.
I’m on the board of Honeywell, Prudential
Financial and Sprint Nextel. I also do one
not-for-proﬁt board—the New York Academy
of Art, a master of ﬁne arts program in
Tribeca, New York City.

14 The ofﬁcial
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