Eastern Airlines to Restart in Miami by Summer of 2009?

Even in a tough economy there are opportunities in the airline business. In a letter sent to former Eastern Airlines employees, an investor group announced that they have concluded a deal with the Eastern Airlines estate to acquire the name, trademarks and affiliate names (including Eastern Express and Eastern Shuttle) for the purpose of re-starting the airline as a scheduled airline.


Eastern

In the letter, Ed Wegel, a veteran of the airline world and current CEO of Eastern Airlines, Inc., told former Eastern Airlines employees, “We have developed a business plan for the re-start of Eastern which leverages off of Eastern’s core strengths while using all of the lessons we have learned from all of the start up airlines and the restructuring of all of the legacy carriers over the past 18 years.”

According to this letter the new airline management will break new ground with contracts with the new Eastern’s crew members and a stock ownership plan that will completely align everyone’s interest in the new company.