Information AboutTexas Air |
| CATEGORIES ABOUT TEXAS AIR | |
| defunct airlines of the united states | |
| eastern air lines | |
|
In 1982 it took over then debt-laden Continental Airlines, assuming the name of the latter. Shortly there-after, the company was forced to file for Chapter 11 bankruptcy, which allowed Frank Lorenzo (President and chief executive officer), to break the on-going union strike. In 1985 , the company lost a bid to take over Trans World Airlines to corporate-raider Carl Icahn . In 1986 the company acquired Eastern Airlines and People Express , with its Frontier Airlines included. By 1987 Texas Air Corporation had control of 20 percent of the U.S. airline market, even though the holding company only had 20 official employees. By the early 1990s the company had been split up, with parts sold to Scandinavian Airlines System , Ross Perot 's EDS (Electronic Data Systems), and an Air Canada -led investment group. REFERENCE |
|
|