I'm John Akers. Fly Me
Yes, Frank Lorenzo has risen from the ashes, and now he's got some company. Lorenzo notified the Transportation Dept. that former IBM Chairman John Akers, who scarcely has had time to clean out his office at Big Blue, is joining Lorenzo's new airline as a director and 5% investor. The would-be airline is battling attacks from bitter airline union leaders, who want to prevent the venture from getting off the ground. Lorenzo, who failed to save troubled Eastern Air Lines, is undergoing public hearings to determine whether he is fit to run an airline. The airline plans to fly jets between Boston, Washington, Atlanta, and possibly Philadelphia. At one point, Lorenzo planned to call it Friendship Airlines, but he has since dropped the name. How about...Phoenix Air, as in rising from the ashes?
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