C Edward Acker

In an unexpected development, Texas Air Corp. declared Monday that it is no longer interested in selling strikebound Eastern Airlines. The announcement came amid rumors of a new bidder for Eastern and hours after a court hearing during which Eastern's lawyers agreed to provide confidential information about the company's financial health to prospective purchasers. At the hearing, federal bankruptcy judge Burton R. Lifland put off for a week a motion by a disgruntled Eastern customer calling for Eastern to be put on the auction block.

In an unexpected development, Texas Air Corp. declared Monday that it is no longer interested in selling strikebound Eastern Airlines. The announcement came amid rumors of a new bidder for Eastern and hours after a court hearing during which Eastern's lawyers agreed to provide confidential information about the company's financial health to prospective purchasers. At the hearing, federal bankruptcy judge Burton R. Lifland put off for a week a motion by a disgruntled Eastern customer calling for Eastern to be put on the auction block.

Pan Am Corp., parent company of the nation's eighth-largest airline, said Tuesday that it expects union agreement soon on a package of wage and benefit cuts and that it will replace some top executives if the plan is approved. The announcement appeared to be a victory for the airline's unions, which have refused to grant the company deep contract concessions while Chairman C. Edward Acker remains in charge.

Financially troubled Pan Am Corp. ousted its two feuding top managers Thursday and replaced them with Thomas G. Plaskett, a respected airline industry executive. Officials of most of the company's unions lauded the firing of C. Edward Acker, chairman and chief executive, and Martin R. Shugrue Jr., the vice chairman and chief operating officer.

Financially troubled Pan Am Corp. ousted its two feuding top managers Thursday and replaced them with Thomas G. Plaskett, a respected airline industry executive. Officials of most of the company's unions lauded the firing of C. Edward Acker, chairman and chief executive, and Martin R. Shugrue Jr., the vice chairman and chief operating officer.

Neil Effman has been named senior vice president-strategic planning at Pan American World Airways, reporting directly to Chairman C. Edward Acker. Effman had been president and chief operating officer of Air Atlanta.

AMR, which owns American Airlines, had been reported to be involved in talks aimed at a possible acquisition of troubled Pan American World Airways. AMR has a marketing agreement with Pan American that gives it the right of first refusal in any takeover of Pan Am. An American spokesman said the company was making the announcement at this time because Chairman Robert Crandall was about to conduct annual employee conferences and wanted to "clear the air." Meanwhile, Pan Am Chairman C.

C. Edward Acker, chairman of financially troubled Pan American World Airways, and millionaire financier Kirk Kerkorian met last week to discuss the possibility of a Kerkorian investment in the carrier. Also at the Thursday meeting in Los Angeles were Terry Christensen, president of Tracinda Corp., Kerkorian's private holding company, and Fred Benninger, a longtime Kerkorian associate.

Martin R. Shugrue, former vice chairman and chief operating officer of ailing Pan Am Corp., was named today as president of Continental Airlines. Shugrue, 47, had been with Pan Am for 19 years before being ousted late last month in a sweeping management reshuffle that also forced out Pan Am Chairman C. Edward Acker.

Pan Am Corp., parent company of the nation's eighth-largest airline, said Tuesday that it expects union agreement soon on a package of wage and benefit cuts and that it will replace some top executives if the plan is approved. The announcement appeared to be a victory for the airline's unions, which have refused to grant the company deep contract concessions while Chairman C. Edward Acker remains in charge.

Pilots at Pan American World Airways agreed to cross picket lines set up by striking ground crews and work to "restore normal service" to the financially troubled airline. The agreement meant the airline could immediately increase its operations to 50%, compared to the 33% it has been operating at since the walkout began Feb. 28, Pan Am Chairman C. Edward Acker said in New York.

The board of directors of Pan Am Corp. today elected Thomas G. Plaskett as chairman, president, chief executive officer and a director of the financially troubled airline company. Plaskett will replace current chairman C. Edward Acker, whose ouster had been widely expected for several weeks. Some of the Pan Am unions had reportedly demanded that Acker be fired in exchange for more than $330 million in labor concessions that they recently agreed to with management.