AVIATION: The Jet Debt

Eastern Air Lines, once one of the nation's most profitable airlines, had sad news for stockholders last week. For the first nine months of the year, it lost $5.7 million, is likely to finish the year in the red and fail to make money for the first time since its incorporation in 1938. American Airlines reported that its earnings for the first nine months slid to $6,924,000 (v. $10,132,000 for the same period last year).

Eastern and American are not the only airlines feeling the pinch. Capital, National and Northeast have also...

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