Eastern Air Lines Incorporated
| Company Deal | Eastern Air Lines, Inc.: $22,000,000 5 3/8% convertible junior subordinated notes due December 1, 1983 |
|---|---|
| Transaction Type | Promissory Notes /|Promissory Notes /|Convertible Junior Subordinated Notes |
| Deal Description | Eastern Air Lines Incorporated used the proceeds from this transaction, together with borrowings from banks and insurance companies and the leasing of aircraft from manufacturers, to accomplish a major equipment program involving forty Boeing 727 jet aircraft. This equipment completed the transition of its fleet from piston to jet-powered equipment on all of its medium- and long-range routes and enabled the company to regain its competitive position in its markets. |