Eastern Air Lines
In early 1969, Borman became a special advisor to Eastern Airlines and after retiring from NASA and the U.S. Air Force in 1970, he was made Senior Vice President-Operations Group at the airline company. He was later promoted to Executive Vice President-General Operations Manager and was elected to Eastern Airlines's Board of Directors in July 1974. In May 1975, Borman was elected President and Chief Operating Officer. He was named Chief Executive Officer of Eastern Airlines in December 1975 and became Chairman of the Board in December 1976.
After Borman became Eastern Airlines's CEO, it went through the four most profitable years in the company's history. However, in 1983, contentious battles with labor unions, particularly the International Association of Machinists and Aerospace Workers (IAM) led the company to abandon several profitable programs and the resulting loses led to the sale of the airline to Texas Air Corporation, headed by Frank Lorenzo. Borman retired from Eastern Airlines in June of 1986. An IAM strike and intransigence by the IAM Union forced Eastern into bankruptcy in 1989, followed by liquidation in 1991.
Read more about this topic: Frank Borman
Famous quotes containing the words eastern, air and/or lines:
“In the dominant Western religious system, the love of God is essentially the same as the belief in God, in God’s existence, God’s justice, God’s love. The love of God is essentially a thought experience. In the Eastern religions and in mysticism, the love of God is an intense feeling experience of oneness, inseparably linked with the expression of this love in every act of living.”
—Erich Fromm (1900–1980)
“He who will one day teach men to fly will have displaced all boundary stones; the boundary stones themselves will fly up into the air to him, and he will rebaptize the earth—as “the weightless.””
—Friedrich Nietzsche (1844–1900)
“Child of Light! thy limbs are burning
Through the vest which seems to hide them;
As the radiant lines of morning
Through the clouds ere they divide them;
And this atmosphere divinest
Shrouds thee wheresoe’er thou shinest.”
—Percy Bysshe Shelley (1792–1822)