Frank Borman, former CEO of Eastern 1 and astronaut, dies at 95

Frank Frederick Borman II, astronaut and the former CEO of Eastern Airlines, passed away at 95, on November 7 in Billings, Montana.

Frank Borman in 1964 (Wikipedia)

Frank joined Eastern on July 1, 1970.

Frank was the CEO when the first version of Eastern folded in 1992.

Borman attempted to negotiate further cuts with the unions, threatening bankruptcy.

The ALPA and TWU unions accepted, but the IAM refused to accept more cuts.

Over ten years, the three unions had given up $836 million in wages and benefits, and the company was still in financial trouble. 

Charlie Bryan, the head of the IAM, said that the union would accept the deal only if Borman resigned. In response, Eastern’s board decided to sell the airline to Texas Air Corporation, headed by Frank Lorenzo.

Borman resigned from Eastern in June 1986.

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