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Eastern Air Shuttle

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BUSINESS
October 13, 1988 | ROBERT E. DALLOS, Times Staff Writer
New York real estate magnate Donald J. Trump agreed Wednesday to purchase Eastern Airlines' highly profitable Washington-New York-Boston air shuttle operation for $365 million cash. Trump, a flamboyant billionaire who also owns two casinos in Atlantic City, N.J., and might use the aircraft to fly gamblers to the gaming mecca on weekends, will rename the carrier "Trump Shuttle." He said he would make a "diamond" out of his new acquisition.
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BUSINESS
March 21, 1989 | ROBERT E. DALLOS, Times Staff Writer
Billionaire real estate magnate Donald J. Trump said Monday that he is no longer prepared to pay crippled Eastern Airlines $365 million for its lucrative Northeast Shuttle. Within hours, Eastern told Trump that it had received other "substantial unsolicited offers" for the shuttle, which has two routes: New York-Washington and New York-Boston.
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BUSINESS
June 8, 1988 | Associated Press
A federal appellate court on Tuesday lifted an injunction barring Eastern Airlines from selling its Northeast shuttle operation to another subsidiary of its parent company, Texas Air Corp. The impact of the case on the sale of the shuttle was not immediately clear because the U.S. Circuit Court of Appeals ruling will give Eastern's labor unions 48 days in which to file further appeals.
NEWS
March 12, 1989 | from Associated Press
Labor rallies boosted the spirits of striking Eastern Airlines workers Saturday while the struggling carrier continued to attract travelers "like gangbusters" to its bargain Northeast shuttle. Aircraft were again reported flying near capacity on the second day of $12 fares on the Northeast shuttle linking New York with Washington and Boston, once Eastern's most profitable service. The pre-strike fare was $99. "The shuttle's going like gangbusters," said Eastern spokesman Robin Matell.
BUSINESS
February 6, 1988 | ROBERT E. DALLOS, Times Staff Writer
In a move that "outraged" its unions, Texas Air said Friday that it will sell its highly profitable Eastern Air Shuttle to a newly created subsidiary for $225 million. The unions loudly criticized the pending sale as an attempt to strip Eastern of its valuable assets and an effort to break the labor groups. Separately, Texas Air on Friday reported massive losses in both the fourth quarter of 1987 and for all of last year reflecting heavy losses from airline operations.
BUSINESS
March 21, 1989 | ROBERT E. DALLOS, Times Staff Writer
Billionaire real estate magnate Donald J. Trump said Monday that he is no longer prepared to pay crippled Eastern Airlines $365 million for its lucrative Northeast Shuttle. Within hours, Eastern told Trump that it had received other "substantial unsolicited offers" for the shuttle, which has two routes: New York-Washington and New York-Boston.
NEWS
March 12, 1989 | from Associated Press
Labor rallies boosted the spirits of striking Eastern Airlines workers Saturday while the struggling carrier continued to attract travelers "like gangbusters" to its bargain Northeast shuttle. Aircraft were again reported flying near capacity on the second day of $12 fares on the Northeast shuttle linking New York with Washington and Boston, once Eastern's most profitable service. The pre-strike fare was $99. "The shuttle's going like gangbusters," said Eastern spokesman Robin Matell.
BUSINESS
March 11, 1989 | PAUL RICHTER, Times Staff Writer
To maintain the pressure in their war of nerves with Eastern Airlines, striking workers have been snapping photographs of Eastern shuttle flight crew members as they arrive at Boston's Logan Airport. But if the strikers' goal is intimidation, it has not worked on Capt. Walt Shivers. The exuberant veteran pilot taxied his plane in front of the strikers' telephoto lenses this week with a sign perched jauntily in his cockpit window: "Flying & Love It."
BUSINESS
March 11, 1989 | ROBERT E. DALLOS, Times Staff Writer
Eastern Airlines, operating under the cover of bankruptcy law, moved Friday to restore some of its flights even as it continues to face the pickets of striking machinists and the anger of ticket holders seeking refunds for canceled flights. On Friday, the airline said its shuttle flights in the New York-Washington-Boston corridor were packed with passengers lured by bargain $12 one-way fares. This weekend, Eastern said, 40 round-trip flights on other routes will be restored.
NEWS
March 9, 1989 | ROBERT E. DALLOS, Times Staff Writer
Eastern Airlines slashed fares in half Wednesday on its almost-empty Northeast shuttle service in a desperate effort to lure back customers who have gone to other carriers since a machinists strike at the airline began five days ago. The airline, which has been virtually shut down by pilots who are honoring the machinists' picket lines, is operating only the hourly shuttle between Washington, New York and Boston, and three weekly flights to South America.
BUSINESS
December 20, 1988 | Associated Press
A federal judge on Monday approved the sale of Eastern Airlines' Northeastern shuttle service to real estate magnate Donald J. Trump, a $365-million deal that labor leaders had challenged as a union-busting effort. Texas Air Corp., the Houston-based holding company that is Eastern's parent firm, has been trying to sell off the profitable shuttle, arguing that struggling Eastern needs the cash to survive.
BUSINESS
October 13, 1988 | ROBERT E. DALLOS, Times Staff Writer
New York real estate magnate Donald J. Trump agreed Wednesday to purchase Eastern Airlines' highly profitable Washington-New York-Boston air shuttle operation for $365 million cash. Trump, a flamboyant billionaire who also owns two casinos in Atlantic City, N.J., and might use the aircraft to fly gamblers to the gaming mecca on weekends, will rename the carrier "Trump Shuttle." He said he would make a "diamond" out of his new acquisition.
NEWS
March 9, 1989 | ROBERT E. DALLOS, Times Staff Writer
Eastern Airlines slashed fares in half Wednesday on its almost-empty Northeast shuttle service in a desperate effort to lure back customers who have gone to other carriers since a machinists strike at the airline began five days ago. The airline, which has been virtually shut down by pilots who are honoring the machinists' picket lines, is operating only the hourly shuttle between Washington, New York and Boston, and three weekly flights to South America.
BUSINESS
March 11, 1989 | PAUL RICHTER, Times Staff Writer
To maintain the pressure in their war of nerves with Eastern Airlines, striking workers have been snapping photographs of Eastern shuttle flight crew members as they arrive at Boston's Logan Airport. But if the strikers' goal is intimidation, it has not worked on Capt. Walt Shivers. The exuberant veteran pilot taxied his plane in front of the strikers' telephoto lenses this week with a sign perched jauntily in his cockpit window: "Flying & Love It."
BUSINESS
October 7, 1988 | ROBERT E. DALLOS, Times Staff Writer
Two of the airline industry's most powerful and independent entrepreneurs are involved in talks that could lead to the sale of ailing Eastern Airlines to Trans World Airlines, a source close to the negotiations said Thursday. Carl C. Icahn, chairman of TWA and owner of nearly three-quarters of its stock, has been holding off-and-on meetings for several months with Frank Lorenzo, chairman of the Texas Air holding company that owns Eastern, the source said. The talks are said to be continuing.
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