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April 9, 1989 | SCOT J. PALTROW, Times Staff Writer
Former baseball commissioner Peter V. Ueberroth said Saturday that members of his group of investors, including current officials at other airlines, may replace some of Eastern Airlines' top management if the planned $464-million purchase of the troubled carrier goes through. Ueberroth, speaking to reporters in Beverly Hills, said specific plans for management changes had not been drawn up yet. But Phil Bakes, Eastern's current president and chief executive, may be among those replaced if a new management team is brought in. Ueberroth said "I don't know" when asked if Bakes is likely to remain at the airline.
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BUSINESS
June 24, 1989 | From Associated Press
Eastern Airlines has failed to make needed repairs to malfunctioning aircraft equipment, even after repeated complaints by pilots, according to a team of investigators from the Federal Aviation Administration. In a brief statement Friday, the Department of Transportation said the FAA team has discovered numerous examples of "chronic failure" to correct equipment deficiencies at the strikebound carrier's Miami and Atlanta bases. "The results indicate that management personnel were allowing aircraft to be moved without adequate corrective action," Joseph Doubleday, the FAA inspection team leader, wrote in a June 7 report to FAA official Roger V. Gordon.
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BUSINESS
April 29, 1989 | ROBERT E. DALLOS and HENRY WEINSTEIN, Times Staff Writers
Eastern Airlines confirmed Friday that it has received another bid from Chicago hotel man Jay A. Pritzker, while another group of would-be suitors apparently tipped its hand before it was ready. An unidentified group offered to buy the strikebound carrier for "in excess of $1 billion" and called itself "a consortium of financial institutions." The group said it had conveyed the offer to the Federal Bankruptcy Court in New York. But none of the principals of the group could be located to identify themselves beyond the description contained in a brief written statement released to the public.
BUSINESS
June 13, 1989 | From Associated Press
The Federal Aviation Administration said Monday it was still monitoring maintenance practices at strikebound Eastern Airlines, although the company and an FAA spokesman say the agency told Eastern informally that it had turned up no irregularities in maintenance paper work. In a recording played since Friday on its toll-free telephone "hot line" for employees, Eastern said the FAA has advised it that recent inspections at maintenance hubs in Miami and Atlanta uncovered no evidence of a systemwide problem.
BUSINESS
June 13, 1989 | From Associated Press
The Federal Aviation Administration said Monday it was still monitoring maintenance practices at strikebound Eastern Airlines, although the company and an FAA spokesman say the agency told Eastern informally that it had turned up no irregularities in maintenance paper work. In a recording played since Friday on its toll-free telephone "hot line" for employees, Eastern said the FAA has advised it that recent inspections at maintenance hubs in Miami and Atlanta uncovered no evidence of a systemwide problem.
BUSINESS
June 24, 1989 | From Associated Press
Eastern Airlines has failed to make needed repairs to malfunctioning aircraft equipment, even after repeated complaints by pilots, according to a team of investigators from the Federal Aviation Administration. In a brief statement Friday, the Department of Transportation said the FAA team has discovered numerous examples of "chronic failure" to correct equipment deficiencies at the strikebound carrier's Miami and Atlanta bases. "The results indicate that management personnel were allowing aircraft to be moved without adequate corrective action," Joseph Doubleday, the FAA inspection team leader, wrote in a June 7 report to FAA official Roger V. Gordon.
BUSINESS
April 17, 1989 | From Times wire services
Texas Air Corp. said today its board has decided that the company should no longer pursue the sale of its strike-plagued Eastern Airlines unit because such a sale would not be in the best interests of Texas Air or Eastern's creditors. The company said its board supports Eastern's management's desire to reorganize Eastern, which is operating under Chapter 11 bankruptcy protection. Under the reorganization, Texas Air said a substantial portion of Eastern's assets would be sold, raising large sums of cash and enabling the carrier to immediately pay off a significant portion of its debt.
BUSINESS
April 29, 1989 | ROBERT E. DALLOS and HENRY WEINSTEIN, Times Staff Writers
Eastern Airlines confirmed Friday that it has received another bid from Chicago hotel man Jay A. Pritzker, while another group of would-be suitors apparently tipped its hand before it was ready. An unidentified group offered to buy the strikebound carrier for "in excess of $1 billion" and called itself "a consortium of financial institutions." The group said it had conveyed the offer to the Federal Bankruptcy Court in New York. But none of the principals of the group could be located to identify themselves beyond the description contained in a brief written statement released to the public.
BUSINESS
April 17, 1989 | From Times wire services
Texas Air Corp. said today its board has decided that the company should no longer pursue the sale of its strike-plagued Eastern Airlines unit because such a sale would not be in the best interests of Texas Air or Eastern's creditors. The company said its board supports Eastern's management's desire to reorganize Eastern, which is operating under Chapter 11 bankruptcy protection. Under the reorganization, Texas Air said a substantial portion of Eastern's assets would be sold, raising large sums of cash and enabling the carrier to immediately pay off a significant portion of its debt.
NEWS
April 9, 1989 | SCOT J. PALTROW, Times Staff Writer
Former baseball commissioner Peter V. Ueberroth said Saturday that members of his group of investors, including current officials at other airlines, may replace some of Eastern Airlines' top management if the planned $464-million purchase of the troubled carrier goes through. Ueberroth, speaking to reporters in Beverly Hills, said specific plans for management changes had not been drawn up yet. But Phil Bakes, Eastern's current president and chief executive, may be among those replaced if a new management team is brought in. Ueberroth said "I don't know" when asked if Bakes is likely to remain at the airline.
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