Eastern Airlines Facing Bankruptcy

Part I 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 ....

Part II of Essay
.... reservation systems, then , as Eastern's problems deepen, about a possible sale. As Frank entered his office, he found his his loyal excutive assistant; Wayne Yeoman; and Dick Magurno, Eastern's senior vice president for legal affairs. For about 20 minutes the three discussed the fourthcoming meeting and the prospects for saving the airline. Negotiations were going to come around for ALPA and TWU but no break from the IAM. The IAM would not budge since Charlie Byran, head of the machinist's union, stood firm a ....