Eastern May Sell Latin Routes: Eastern Airlines...

Eastern May Sell Latin Routes: Eastern Airlines is again talking to AMR Corp. about selling Eastern’s profitable Latin American routes, which operate out of Eastern’s Miami hub and are valued at $300 million to $400 million. The talks were revived after Eastern discovered that it is facing an anticipated cash shortfall of about $200 million. Miami-based Eastern, a subsidiary of Texas Air Corp., has been operating under Chapter 11 bankruptcy protection since March. Talks over the Latin routes fell apart last summer, depriving Eastern of at least $300 million and forcing it to rework its bankruptcy reorganization plan.