The flight of the Accountant: a romance of air and credit
The flight of the Accountant: a romance of air and credit
Armstrong P. Critical Perspectives on Accounting, April 2005 Vol. 16 No. 3, Start Page: 165, No of Pages: 19
Purpose – To analyse the rise and fall of Freddie Laker in the airline business. Design/methodology/approach – Tells the story of Freddie Laker’s activities in the airline business, explaining the technical problems associated with his attempts to develop a new aircraft (the “Accountant”) and his business strategy. Gives details of his finances, government intervention and some dirty tricks in the industry to show why Laker Airways was declared insolvent in 1982, noting that the liquidators sued 12 airlines for conspiracy to bring the company down and that Laker accepted a personal settlement of£8 million from British Airways to drop his case. Reveals that Laker (at 79) still runs an airline in the Bahamas. Originality/value – Tells an interesting story of an entrepreneurial individual.ISSN: 1045-2354Reference:34AL404
Keywords: Airlines, Business development, Competitive strategy,Entrepreneurs, Liquidation, United Kingdom
