Eastern May Run Out Of Fuel Soon

Beleaguered Eastern Air Lines may be on its last wings. The bankrupt Miami carrier was kept alive in December, despite creditors' pleas for liquidation, when U. S. Bankruptcy Judge Burton Lifland allowed court-appointed trustee Martin Shugrue to use an additional $135 million in escrow funds to fly through March. But Eastern has been burning up cash at such a clip--more than $2 million a day--that it may run out soon.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.