Boston Firm Buys Stake in Texas Air:...

Boston Firm Buys Stake in Texas Air: An official of the Boston-based portfolio management firm of Loomis Sayles & Co. said the company had acquired “in excess of 12%” of Texas Air Corp.’s outstanding common shares. A spokesman for the Houston-based airline holding company said the stake represents 12.6% of the 41 million common shares. Ken Heebner, a Loomis Sayles portfolio manager, said the stake in Texas Air, which owns Continental Airlines and Eastern Airlines, is for investment purposes only. He said Continental is poised for a “substantial” rebound and that Eastern, crippled by a labor dispute and in Chapter 11 bankruptcy proceedings, will “emerge as a profitable, viable carrier with much lower costs.”