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People Express has received Civil Aeronautics Board approval to begin Newark-to-London service for $149 one-way coach; $439 one-way premium class; the airline expects to start this service in late May or early June. No reservations will be taken for several weeks. This price still has to be registered with the British government, but an airline spokesman said the company is ''confident'' that it will receive approval at that price or close to it.

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