#1
Jun 16, 2023Report: Investor 'Exploring The Rebirth Of Eastern Airlines'
Fri, 06 Mar '09
Wegel Hopes To Resurrect Once-Legendary Airline
Given the current state of the US economy, now may seem a most unusual (okay, we'll say it, flat-out awful) time to talk about the resurrection of a storied US carrier... but that hasn't stopped growing speculation a group of investors may soon attempt to bring back Eastern Airlines.
The Wall Street Journal reports -- with a measure of disbelief -- a story circulated by travel newsletter Tripso notes "a group of former Eastern Airlines employees and an investor group are exploring the rebirth of Eastern."
Tripso cites a letter recently sent to former Eastern employees, by Ed Wegel... airline financier, and CEO of Eastern Airlines Inc. In that letter, Wegel reportedly told Eastern aficinados his group recently "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."
This isn't the first time someone has tried to resurrect Eastern, since the original airline went out of business in 1991. For that matter, it's not even the first time Wegel has tried to do so; last spring, Wegel told the South Florida Business Journal his group had a deal in hand for Eastern's assets and trademarks, and hoped to restart Eastern by this summer. Not much else was heard of the deal after that.
This time around, Wegel says "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."
For its part, the Wall Street Journal is skeptical Eastern will fly again, particularly in these trying economic times. But the WSJ does allow that "with Wegel's background in airline financing, maybe he knows something we don't."
If nothing else, Wegel brings a fairly diverse background to the table... serving various roles at carriers including Mesa Air Group, Atlantic Coast Airlines, BWIA (the national airline of Trinidad) and Chautauqua Airlines. He served as CEO at the latter two, each for two-year terms in the late 1990s.
The rebirth of Eastern seems to be a personal quest for Wegel. His first airline job was at the carrier, back in 1985.
http://www.aero-news.net/index.cfm?C...3-157f8496c594
Fri, 06 Mar '09
Wegel Hopes To Resurrect Once-Legendary Airline
Given the current state of the US economy, now may seem a most unusual (okay, we'll say it, flat-out awful) time to talk about the resurrection of a storied US carrier... but that hasn't stopped growing speculation a group of investors may soon attempt to bring back Eastern Airlines.
The Wall Street Journal reports -- with a measure of disbelief -- a story circulated by travel newsletter Tripso notes "a group of former Eastern Airlines employees and an investor group are exploring the rebirth of Eastern."
Tripso cites a letter recently sent to former Eastern employees, by Ed Wegel... airline financier, and CEO of Eastern Airlines Inc. In that letter, Wegel reportedly told Eastern aficinados his group recently "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."
This isn't the first time someone has tried to resurrect Eastern, since the original airline went out of business in 1991. For that matter, it's not even the first time Wegel has tried to do so; last spring, Wegel told the South Florida Business Journal his group had a deal in hand for Eastern's assets and trademarks, and hoped to restart Eastern by this summer. Not much else was heard of the deal after that.
This time around, Wegel says "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."
For its part, the Wall Street Journal is skeptical Eastern will fly again, particularly in these trying economic times. But the WSJ does allow that "with Wegel's background in airline financing, maybe he knows something we don't."
If nothing else, Wegel brings a fairly diverse background to the table... serving various roles at carriers including Mesa Air Group, Atlantic Coast Airlines, BWIA (the national airline of Trinidad) and Chautauqua Airlines. He served as CEO at the latter two, each for two-year terms in the late 1990s.
The rebirth of Eastern seems to be a personal quest for Wegel. His first airline job was at the carrier, back in 1985.
http://www.aero-news.net/index.cfm?C...3-157f8496c594
#2
Please discuss in the FT Newsstand.
Thanks..
Obscure2k
TravelBuzz Moderator
Thanks..
Obscure2k
TravelBuzz Moderator
#3
Well, former Eastern employees ought to be cheap hires, simply augmenting their Social Security checks. If he'll offer shuttle transport from the Old Folks Homes and make the pax carry their own bags, it might work....
#4
Quote:
Mesa Air Group, Atlantic Coast Airlines, BWIA (the national airline of Trinidad)
Wow, three of the worst airlines I've ever flown, plus he worked at EA as it was starving under Lorenzo. That's quite a pedigree to live up to.Mesa Air Group, Atlantic Coast Airlines, BWIA (the national airline of Trinidad)
#5
Quote:
Yeah, me too. I realize my brother who flown on EA by 24 years ago. I remember where he went to summer camp in Canada or somewhere else. I'm surely EA will have fully more recovery after EA is cease operations by 18 years ago. I'm sure if would be nice warm welcome back to reborn newest Eastern Airlines. Do you know which equipment will be choose on A320 or A319?Originally Posted by choster
Wow, three of the worst airlines I've ever flown, plus he worked at EA as it was starving under Lorenzo. That's quite a pedigree to live up to.
#7
Quote:
I have no ideas what I am thinking about club membership? Originally Posted by SS255
Hmmmm.....would the new EA honor the old Lifetime Ionosphere Club memberships? My father made a bad investment in a lifetime membership!
#8
FlyingNone , Mar 6, 2009 9:25 pm
Wasn't a similar attempt made with Pan Am.....they flew up in New England somewhere as a domestic Pan Am but it never amounted to anything ??
"Pan Am, Gone But Not Forgotten"..............sad bumper sticker after they died.
"Pan Am, Gone But Not Forgotten"..............sad bumper sticker after they died.
#9
Quote:
Not all former EAL employees are near SS. Some are still pretty cute evenOriginally Posted by TMOliver
Well, former Eastern employees ought to be cheap hires, simply augmenting their Social Security checks. If he'll offer shuttle transport from the Old Folks Homes and make the pax carry their own bags, it might work....
#11
Non-NonRev , Mar 9, 2009 8:59 am
FlyerTalk Evangelist
I still have my old Eastern Airlines ID - I wonder if I will be allowed to non-rev on the new carrier?? 
#12
onlyairfare , Mar 9, 2009 11:24 am
I wonder if I can find my old WHEAL button?
You remember - We Hate Eastern Air Lines. Used to fly them to and from college because they were so reliable - always lost my luggage, always late, always rude staff.
You remember - We Hate Eastern Air Lines. Used to fly them to and from college because they were so reliable - always lost my luggage, always late, always rude staff.
#13
767-322ETOPS , Mar 9, 2009 11:49 am
Maybe they'll buy "Onepass" back from CO.
#14
Quote:
Yes, certainly you can. You will allows to flying non-rev where you will take on next trip. I'm sure EA will have approval from your former employee to be recalled. I'm sure EA will be back. What about former pilots or F/A will be recalled to comeback work at Eastern Airlines.Originally Posted by Non-NonRev
I still have my old Eastern Airlines ID - I wonder if I will be allowed to non-rev on the new carrier??
#15
Quote:
No, obviously not. They don't allows to buy Onepass at all.Originally Posted by 767-322ETOPS
Maybe they'll buy "Onepass" back from CO.