Eastern Airlines
03-25-2014 | 02:45 PM
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Eastern Airlines
Eastern Air Lines Group Inc., the startup carrier whose namesake was shut down in 1991, is shopping for as many as 10 used jets and looking at new models as it plots its debut as a charter operator.
Talks are under way with lessors for secondhand aircraft and with Boeing Co. (BA) and Airbus Group NV (AIR) about new narrow-body models, Chief Executive Officer Ed Wegel said in an interview. Joining Wegel at Miami-based Eastern are investment managers and several former airline-industry executives.
Lining up planes is an essential step toward Eastern’s plan to start flights in nine to 12 months as a charter service after filing with U.S. regulators in January for required certification. Investors have tried before, and failed, to revive venerable airline brands, including Pan American World Airways -- once the largest U.S. carrier -- and Braniff Airlines.
“In the charter division, we would need up to 10 planes,” Wegel said. Lessors “are the only ones who have used planes, and Boeing and Airbus know where all the used aircraft are.”
New planes would wait until Eastern decides whether to move into scheduled service.
Wegel declined to identify lessors involved in the talks, and said the company hopes to have decided on leasing opportunities in the next 30 to 45 days. The charter effort would start with a single Airbus jet and grow to three planes in its first year, according to its Jan. 28 U.S. Transportation Department application.
Talks are under way with lessors for secondhand aircraft and with Boeing Co. (BA) and Airbus Group NV (AIR) about new narrow-body models, Chief Executive Officer Ed Wegel said in an interview. Joining Wegel at Miami-based Eastern are investment managers and several former airline-industry executives.
Lining up planes is an essential step toward Eastern’s plan to start flights in nine to 12 months as a charter service after filing with U.S. regulators in January for required certification. Investors have tried before, and failed, to revive venerable airline brands, including Pan American World Airways -- once the largest U.S. carrier -- and Braniff Airlines.
“In the charter division, we would need up to 10 planes,” Wegel said. Lessors “are the only ones who have used planes, and Boeing and Airbus know where all the used aircraft are.”
New planes would wait until Eastern decides whether to move into scheduled service.
Wegel declined to identify lessors involved in the talks, and said the company hopes to have decided on leasing opportunities in the next 30 to 45 days. The charter effort would start with a single Airbus jet and grow to three planes in its first year, according to its Jan. 28 U.S. Transportation Department application.
03-25-2014 | 05:53 PM
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From: Going to hell in a bucket, but enjoying the ride .
I heard New Eastern is already talking about buying some of Continental's used airplanes and then merging with New People Express!
Oh wait.
Where's Frank Lorenzo these days anyway?
Someone told me he works for Progressive Insurance...?
Oh wait.
Where's Frank Lorenzo these days anyway?
Someone told me he works for Progressive Insurance...?
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