Eastern Air Lines, Inc. - Registered Aviation Bond
Inv# VB5010 Bond
Various denomiation Bond. Nice graphics by Security-Columbian U.S. Banknote. Excellent Condition. Very Rare!
Eastern Air Lines, also colloquially known as Eastern, was a major American airline from 1926 to 1991. Before its dissolution, it was headquartered at Miami International Airport in an unincorporated area of Miami-Dade County, Florida. Eastern was one of the "Big Four" domestic airlines created by the Spoils Conferences of 1930, and was headed by World War I flying ace Eddie Rickenbacker in its early years. It had a near monopoly in air travel between New York and Florida from the 1930s until the 1950s and dominated this market for decades afterward. During airline deregulation in the late 1970s and early 1980s, labor disputes and high debt loads strained the company under the leadership of former astronaut Frank Borman. Frank Lorenzo acquired Eastern in 1985 and moved many of its assets to his other airlines, including Continental Airlines and Texas Air. After continued labor disputes and a crippling strike in 1989, Eastern ran out of money and was liquidated in 1991.
American Airlines obtained many of Eastern's routes from Miami to Latin America and the Caribbean, while Delta Air Lines, Eastern's main competitor at Hartsfield Airport in Atlanta, acquired many of Eastern's Lockheed L-1011 aircraft. USAir acquired 11 of Eastern's 25 Boeing 757-225 aircraft. Eastern pioneered hourly air shuttle services between New York City, Washington, D.C., and Boston in 1961 as the Eastern Air Lines Shuttle. It took over the South American routes Braniff International following Braniff's closure in 1982 and served London Gatwick in 1985 via its McDonnell Douglas DC-10-30 "Golden Wings" service. Although Eastern announced on its March 2, 1986 timetable that it intended to initiate service to Madrid, effective May 1, 1986, it never commenced. The only scheduled transatlantic service Eastern provided was Miami to London Gatwick, commencing on July 15, 1985 and discontinuing the following year, in 1986, replaced with codeshare flights from Atlanta on British Caledonian Airways. Read more at https://en.wikipedia.org/wiki/Eastern_Air_Lines
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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