Eastern’s Request for More Funds Approved: A...
From Times Staff and Wire Reports
Eastern’s Request for More Funds Approved: A federal bankruptcy judge approved Eastern Airline’s request for $50 million to be taken out of escrow funds to help finance its operations through February. The approval by a U.S. Bankruptcy judge comes a day after a committee of Eastern’s preferred shareholders advocated the liquidation or outright sale of the airline and said a $40-million advance should be enough to cover the month.