"Eastern Air Lines, colloquially known as ‘Eastern’ was a US airline, primarily operating domestic routes which ceased operations in 1991, more than 60 years after it first took to the skies. Starting with an initial airmail route between New York and Atlanta, the airline, in its initial years, concentrated on setting up routes between the North Eastern US states and holiday destinations in the state of Florida. Under the able stewardship of World War I US flying ace Eddie Rickenbacker, the airline which was briefly owned by US automotive giant General Motors, was immensely profitable in its early days. Together with American, TWA and United, Eastern Air Lines was informally known as the “Big Four”. However, increased competition following US deregulation of the airline industry in 1978 coupled with mounting debts from big aircraft purchases and labor troubles resulted in the airline being sold in 1986 to US businessman Frank Lorenzo. Instead of turning around the airline as expected, Lorenzo was only interested in stripping Eastern of its various valuable assets. As a result, the airline eventually ran out of cash and was liquidated in 1991, bringing to an end the operations of a great airline. Please go through the presentation for more details."

Rajeev Soman

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