Eastern Airlines is seeking a pension fund waiver.
Under an application to the Internal Revenue Service, Eastern Airlines asked to reschedule $60.4 million of contributions that otherwise would have been made Monday. In the application, Eastern committed to make up the payment in three annual installments commencing next year rather than apply for the standard 15-year waiver. According to Eastern President Joseph B. Leonard, the decision is part of a larger Eastern program to strengthen its cash reserves.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
