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Revision as of 15:27, 31 August 2004 by 130.156.23.110 (talk)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)File:Http://www.pbs.org/kcet/chasingthesun/images/comp eastern 231.jpgFrank Lorenzo is a former airline industry executive that headed several airlines.
He headed, Texas Air, later Texas International, Continental Airlines, New York Air, Frontier Airlines, and Eastern Airlines. took Continental into bankruptcy in 1984, in part because bankruptcy law allowed for immediate cessation of binding union contracts. Continental emerged from bankruptcy as non-union airline. The United States Congress changed bankruptcy laws as a result. He took Eastern into bankruptcy after attempts to reconfigure labor contracts there failed. Eastern ceased operations after parts were sold off in bankruptcy proceedings. He tried to found a new airline in 1993, but the United States Department of Transportation did not allow him to do so.
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