1982 EASTERN AIR LINES takes over BRANIFF South American Routes ad advert airway

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EASTERN AIR LINESNow the Western Hemisphere is the Eastern Hemisphere.Eastern serves more cities in the Americas than any other airline.America’s favorite way to fly.1982 vintage color print ad VERY GOOD+++ condition, as shown. Buyer satisfaction always guaranteed. Measures approximately 10.5 INCHES by 8.0 INCHES. Perfect size to slip into a plastic sleeve for display in a 3-ring binder or collector’s album. This is an original EASTERN AIR LINES ad. Not a reproduction. Ad will be wrapped in plastic and securely packaged in cardboard for protection while in transit. I am happy to combine shipping on multiple purchases. If you have any questions, please ask. In early 1982, Braniff Chairman Howard Putnam decided to sell the Latin American Division. Negotiations had been underway with Pan American World Airways since early 1982, but the Civil Aeronautics Board would not approve sale to Pan Am because it felt that Pan Am would have a monopoly over other American carriers in the region. Pan American responded by offering to jointly lease the routes with Air Florida for three years at a price of US$30 million. Pan American Chairman, and former Braniff International President, Ed Acker had previously served as Chairman of Air Florida before taking the leadership position at Pan American. The CAB decided that it would not change its position in spite of the joint service application. Braniff International maintained that it was hemorrhaging cash and that it could not continue to operate the money losing South American system. The normally profitable South America system began losing money when fuel prices expanded in 1979 combined with a significant loss of critical feed at Braniff’s US gateway cities, which made the legendary Douglas DC-8-62 four-engine long-range jets uneconomical. Braniff entered into negotiations with Eastern Airlines to lease the routes to the Miami-based carrier for US$18 million effective June 1, 1982, for one year. On April 26, 1982, the Civil Aeronautics Board approved the Eastern/Braniff lease agreement in a 5–0 unanimous decision. Eastern Chairman Frank Borman reported that Eastern had paid Braniff an initial payment of US$11 million with the remaining seven million USD to be paid at the end of 1982. Eastern initially offered to lease the routes for US$30 million for six years but the CAB denied the request stating that it was too long. Eastern had been trying unsuccessfully to obtain authority to fly to South America since 1938, and would operate 24 weekly flights from Miami, two from New York, and one from New Orleans to west coast South American cities that Braniff mainly served. Under the agreement Braniff International would retain service to Venezuela and American Airlines would serve Braniff’s Brazilian services as required by a bilateral treaty between the United States and Brazil. Approval from South American governments for Eastern’s one-year lease of Braniff’s routes would not be required according to United States officials. Braniff International lauded the CAB’s quick decision as the carrier had stated that because of its tenuous cash position that it might have to shut the routes down if an agreement was not approved. Braniff ceased operations on May 12–13, 1982, and Eastern took over the routes earlier than the planned June 1, 1982, commencement of service date. Eastern Air Lines had reported losses for 1981 and felt that the purchase of Braniff’s South America routes would help, but Eastern’s financial condition worsened through the 1980s. Eastern never made a profit with their South American routes, due to the region’s delicate financial situation at the time. On April 26, 1990, the United States Department of Transportation approved the sale of Eastern Airlines’ Latin American routes to American Airlines for US$349 million. Eastern had recently filed for Chapter 11 bankruptcy protection and planned to use the money from the route sale to repay creditors and regain its financial footing. The funds were placed into a special fund controlled by Eastern’s creditors who had recently ousted controversial Chairman Frank Lorenzo, who had taken over the 60-year-old aviation legend in 1986.

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