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Eastern Airlines Facing Bankruptcy
Beginning of essay|
In 1986, Eastern Airlines was in desparate trouble. The fourth
quarter of 1985 had shown a $67.4 million loss, and financially experts
had told Frank Borman, president and chief executive officer, that the
airline had three choices: 1) a 20 percent pay cut for all union and
Middle of essay
....ion of the Texas Air
offer, concentrating on some of the conditions attached to the buying of the
company. More talk and hours dragged on. Finally word got out that ALPA was
nearing an agreement. The meeting recessed for an hour.
During the recess Frank needed to get Charlie's surport on the 20
percent pay cut, otherwise the company was going to sold. He told Charlie to
come up to his office. Frank told Charlie, " we've been at this since 83' and
you have to recognize ....
|Number of words: 1250
||Approximate pages: 5
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