Eastern’s Latin Route Sale OKd: A U.S....
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From Times Staff and Wire Reports
Eastern’s Latin Route Sale OKd: A U.S. bankruptcy court judge has approved Eastern Airlines’ sale of its Latin American routes to American Airlines for about $349 million. The approval comes after Miami-based Eastern, which is struggling to emerge from bankruptcy proceedings, said it could not repay some creditors as it promised in February. It cited weak patronage from business passengers. The sale of the Latin American routes, agreed to by the two airlines last December, still requires approval by the Transportation Department.
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