Originally Posted by ROCAT

That was a small part of the problems they had, in the late 70's they were paying around a quarter million a day in interest payments alone, mostly do to the A300 and B757 they bought on bad terms expecting a massive oil price hike that never happened. Frank Lorenzo then bought the airline and tried to gut it like he did Continental Airlines but the unions who were going to lose their jobs regardless fought him hard driving the company into a death spiral.