FEATURED ARTICLES
BUSINESS
November 9, 1989 | The Inquirer Staff
Texas Air Corp. said yesterday that its losses had increased to $158 million in the third quarter, the industry's peak season, from $114.1 million a year ago, reflecting the company's costly effort to rebuild its Eastern Airlines subsidiary. Eastern Airlines, whose unions have been on strike since early March, recorded a $185.2 million loss in the third quarter as it tried to restructure its operations. In the year-ago quarter, it lost $112.9 million. The airline's revenues tumbled to $305.
BUSINESS
May 14, 1986 | The Inquirer Staff
Texas Air Corp. has agreed to sell some takeoff and landing rights to Pan American World Airways at three East Coast airports, clearing the way for approval of Texas Air's proposed merger with Eastern Airlines, the Justice Department said yesterday. The agreement resolves competitive concerns raised by the Justice Department, said a statement by Deputy Assistant Attorney General Charles F. Rule of the antitrust division. The merger still must be approved by the U.S. Transportation Department.
BUSINESS
February 22, 1990 | The Inquirer Staff
Texas Air Corp., the nation's largest airline company, has agreed to sell half of its prized computer-reservation system for $250 million to General Motors Corp., the companies said yesterday. The deal with GM unit Electronic Data Systems Corp. marks the first time a non-airline company has participated in an airline reservation system, Frank Lorenzo, chairman of Texas Air (AMEX), said. He said the partial sale of System One was not intended to help bail out financially struggling Texas Air or to ease pressure caused by a yearlong strike and bankruptcy proceeding at its Eastern Airlines subsidiary.
BUSINESS
March 7, 1990 | From Inquirer Wire Services
After severely criticizing the proposal only last week, Texas Air Corp. said yesterday that it would seek court approval to pay its Eastern Airlines unit $280 million. The plan, proposed by the court-appointed examiner in Eastern's bankruptcy case, calls for the payments to settle charges that Texas Air shortchanged Eastern in a dozen business transactions. After the examiner, David Shapiro, announced the proposed settlement in bankruptcy court on Thursday, Texas Air and Eastern harshly criticized his report.
BUSINESS
September 19, 1986 | From Inquirer Wire Services
Texas Air Corp. yesterday moved a step closer to becoming the world's second-biggest airline when the federal government tentatively approved its purchase of Eastern Airlines. The U.S. Department of Transportation, which on Aug. 26 rejected the takeover, said "the acquisition's only competitive problem" had been solved by Texas Air's sale of some landing rights in New York and Washington to Pan Am Corp. The department had suggested that Pan Am needed additional rights to make its proposed Northeastern shuttle service competitive with those run by Eastern and New York Air, a Texas Air subsidiary.
BUSINESS
October 6, 1988 | By Marcy Gordon, Associated Press Inquirer correspondent Mike Schurman contributed to this article
A new $50 million agreement between Scandinavian Airlines System and Texas Air Corp. will strengthen the competitive positions of both companies, officials of the airlines said yesterday. Under Texas Air's agreement with SAS, announced Tuesday, the Scandinavian airline will lease airport gates in the New York area. Officials of the Port Authority of New York and New Jersey and airline industry analysts said yesterday that the deal could be a glimpse of the future, when more foreign carriers will share their routes in exchange for entry to the U.S. market.
BUSINESS
July 8, 1986 | By Tom Belden, Inquirer Staff Writer (United Press International contributed to this article.)
Airline-industry analysts said yesterday that Texas Air Corp. might be the leading contender to acquire People Express Inc., but they cautioned that any potential marriage of the companies would face huge hurdles. The Wall Street Journal reported yesterday that Texas Air - the parent company of Continental Airlines and New York Air and the proposed buyer of Eastern Airlines - offered $12 a share for People Express over the weekend. Adding People Express to the Texas Air network might create a huge discount-airline system with a low-cost structure, but the merger would be open to challenge on anti-competitive grounds, several analysts said.
BUSINESS
February 25, 1986 | By Larry Fish, Inquirer Staff Writer
Frank Lorenzo has his work cut out for him if he expects to turn beleaguered Eastern Airlines into a profitable carrier, industry analysts say. But then, nobody believed he had much chance to succeed with Continental Airlines two years ago. Instead, Lorenzo brought the troubled carrier, which he took over in 1982, on an unprecedented but apparently successful trip through the perils of Chapter 11 of the Federal Bankruptcy Act. Now, Lorenzo's...
BUSINESS
July 20, 1989 | The Inquirer Staff
Texas Air Corp., owner of Continental Airlines and strike-bound Eastern Airlines, said yesterday that it had placed orders for up to 100 Boeing Co. aircraft worth as much as $2.8 billion. The Houston airline holding company said it had placed firm orders for 50 Boeing 737 aircraft and taken options for another 50. It said that the planes would be used by both Eastern and Continental. If all the options are executed, the deal would be worth $2.8 billion. Texas Air said the planes would replace older aircraft at Eastern and Continental and that financing would be arranged nearer the time when deliveries began in 1992.
BUSINESS
September 16, 1986 | From Inquirer Wire Services
People Express Inc., trapped in a cash squeeze after rapid growth as a pioneer of low-fare air travel, said yesterday it had agreed to be acquired by Texas Air Corp. of Houston for $125 million in securities. The purchase, which would include Texas Air's assumption of about $750 million of People Express debt, would establish Texas Air as the nation's biggest airline operator. The company already owns Continental Airlines and New York Air and is in the process of buying Eastern Airlines.
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NEWS
September 17, 2012
Female leader for Texas air base SAN ANTONIO - The Air Force chose a woman Saturday to lead its basic-training unit at a Texas base where dozens of female recruits have alleged they were sexually assaulted or harassed by male instructors within the last year. Col. Deborah Liddick is taking command of the 737th Training Group, bringing a distinctly new face of authority to Lackland Air Force Base in San Antonio. Six male instructors have been charged with crimes ranging from rape to adultery.
NEWS
February 3, 1999 | By Richard Parker, INQUIRER WASHINGTON BUREAU
Five years after President Clinton allowed gays to legally serve in uniform, the "don't ask, don't tell" policy has built a confusing world of lies at the Texas base where the Air Force trains its new enlisted men and women. Lackland Air Force Base accounts for more than one-fifth of the people dismissed from military service under the controversial policy. The Air Force says most of those discharges involved unhappy heterosexual recruits who lied to escape their enlistment.
NEWS
June 8, 1992 | BY CAL THOMAS
No one I know would allow a building contractor to begin work without first getting an estimate, seeing the plans and reviewing references. Yet that is what the greatest hustler in American politics, Ross Perot, is asking us to do by considering him for president. That he has attracted so many supporters who blindly follow his upbeat, folksy and content-less message says more about the decline of the electorate than it does about the supposedly diminished quality of leadership.
BUSINESS
April 21, 1990 | By Ted Reed and Lore Croghan, Miami Herald Inquirer wire services contributed to this article
Phil Bakes quit his $325,000-a-year job as president and chief executive of Eastern Airlines yesterday, just two days after a bankruptcy court judge named a trustee to run the airline. "Marty Shugrue, the court-appointed operating trustee, will assume all duties normally associated with the position of chief executive of Eastern Airlines," Bakes said in a brief statement. U.S. Bankruptcy Judge Burton R. Lifland in New York appointed Martin Shugrue over the opposition of Eastern and its parent company, Texas Air Corp.
BUSINESS
April 11, 1990 | From Inquirer Wire Services
Angry creditors yesterday asked a judge to appoint a trustee to run Eastern Airlines in place of managers from parent Texas Air Corp. The move could mean the end of Eastern's efforts to revive itself after a bankruptcy filing and a 13-month-old strike by the International Association of Machinists. For the first time since Eastern filed for protection from creditors March 9, 1989, Texas Air chairman Frank Lorenzo's control of the carrier seemed uncertain. Eastern's unsecured creditors, who until recently had supported the company, told U.S. Bankruptcy Judge Burton R. Lifland in New York that the carrier was guilty of "gross incompetence . . . gross mismanagement" or fraud in trying to reorganize.
BUSINESS
March 7, 1990 | From Inquirer Wire Services
After severely criticizing the proposal only last week, Texas Air Corp. said yesterday that it would seek court approval to pay its Eastern Airlines unit $280 million. The plan, proposed by the court-appointed examiner in Eastern's bankruptcy case, calls for the payments to settle charges that Texas Air shortchanged Eastern in a dozen business transactions. After the examiner, David Shapiro, announced the proposed settlement in bankruptcy court on Thursday, Texas Air and Eastern harshly criticized his report.
BUSINESS
February 22, 1990 | The Inquirer Staff
Texas Air Corp., the nation's largest airline company, has agreed to sell half of its prized computer-reservation system for $250 million to General Motors Corp., the companies said yesterday. The deal with GM unit Electronic Data Systems Corp. marks the first time a non-airline company has participated in an airline reservation system, Frank Lorenzo, chairman of Texas Air (AMEX), said. He said the partial sale of System One was not intended to help bail out financially struggling Texas Air or to ease pressure caused by a yearlong strike and bankruptcy proceeding at its Eastern Airlines subsidiary.
BUSINESS
November 9, 1989 | The Inquirer Staff
Texas Air Corp. said yesterday that its losses had increased to $158 million in the third quarter, the industry's peak season, from $114.1 million a year ago, reflecting the company's costly effort to rebuild its Eastern Airlines subsidiary. Eastern Airlines, whose unions have been on strike since early March, recorded a $185.2 million loss in the third quarter as it tried to restructure its operations. In the year-ago quarter, it lost $112.9 million. The airline's revenues tumbled to $305.
BUSINESS
August 31, 1989 | E.W. FAIRCLOTH/ DAILY NEWS
Striking Eastern Airlines workers brought their protest to Liberty Travel at 220 S. 16th St. for about an hour yesterday afternoon. The strikers said Liberty was targeted because of "its extensive cooperative advertising/ promotional activities with Continental," which is owned by Texas Air, Eastern's parent company. Liberty office manager Denise D'Amora said her agency "does not necessarily do more promotional activity with (Continental) than other airlines. "
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