Frederick “Freddy” Laker, Billionaire Airline Entrepreneur. High school dropout.

Frederick Alfred Laker British entrepreneur from Kent, Eng., is the brash, ebullient founder and chairman of Laker Airways Ltd. From 1966–82, rhe evolutionized the airline industry by offering the first low-cost commercial transatlantic flights. After an 11-year legal battle, Laker Airways introduced Skytrain international flights in 1977, at a time when major carriers controlled air travel and fares between the U.S. and the U.K. Laker cut costs by introducing a no-frills service that eliminated reservations, meals, and other extras. Other carriers lowered their fares, however, and Laker Airways went bankrupt in 1982. Laker sued, and British courts eventually ruled that the major airlines had engaged in predatory pricing; Laker’s legal efforts thus paved the way for future low-fare carriers. From 1992 he operated small regional airlines servicing Florida and The Bahamas. Laker was knighted in 1978.

Tips

-Although education is important, drive and ambition can carry you a long way.

-Always stand up for yourself

-Remember if others can do it, so can you

 

 

 

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