Getting your Trinity Audio player ready...
Texas Air Corp. said in a filing with the Securities and Exchange Commission that it acquired 51 percent, or 41.7 million shares, of Eastern Airlines Inc. Frank Lorenzo, chairman of Texas Air, said the acquisition of a majority of Eastern`s shares paves the way for completion of the previously announced merger of the two companies. The merger is subject to approval of the U.S. Department of Transportation and Eastern shareholders.
