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Eastern Airlines, seeking to raise cash, has...

Eastern Airlines, seeking to raise cash, has sold six A-300 wide-body jets to sister carrier Continental Airlines, the company announced. Eastern will receive $103 million in cash and a $67-million note at 17.5% interest for the sale, Eastern spokeswoman Karen Ceremsak said in Miami. The planes had been leased earlier to Continental and therefore will have no effect on the size of Eastern’s fleet, she said. Ceremsak said the sale was unconnected to the breakdown Monday of federally mediated talks between Eastern and its machinists union.


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