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Eastern Airlines / Sale #121490

ABC Evening News for Wednesday, Apr 12, 1989
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(Studio: Peter Jennings ) Report introduced.

(NYC: Stephen Aug) Deal for group led by Peter Ueberroth to buy Eastern Airlines reported falling apart; details given of failure of deal due to Texas Air chairperson Frank Lorenzo's refusal to reach agreement with unions over trusteeship period. [UEBERROTH - says our agreement with Eastern is over.] [Air Line Pilots Association spokesperson Jack BAVIS - comments on deal.] [Bankruptcy attorney Martin KLEIN - talks about trusteeship aspect.] What may happen next discussed. [Eastern president Philip BAKES - says there will a rebuilding of a smaller Eastern.] Response of striking union noted. [Machinists union's Wally HABER - says we will try another deal.] Takeover king Carl Icahn reported still interested in a deal.

Reporter(s):
Aug, Stephen;
Jennings, Peter
Duration:
00:02:40

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