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In the meantime, Ed Wegel just launched its newest re-birth project, this time with defunct World Airways, which ceased operations in March 2014, almost 66 years after the day it began on March 29, 1948.US-based investment firm, 777 Partners, just announced it acquired the intellectual property of World Airways, Inc.This unexpected departure of the airline’s founder and major energy-driver brings Eastern Air Lines to the list of carriers experiencing senior management changes in 2016.Spirit, Delta, United, American, and Eastern witnessed significant changes in the C-Suite during that year.He is particularly known and appreciated for his support of Eastern’s Veteran’s Honor Flights. Thanks to Wegel’s efforts, Part 121 certification was given to Eastern Air Lines in April 2015.He served five years active military service as an Army officer in the U. The fanfare behind the rebirth of Miami’s most iconic airline reached far beyond that of a traditional airline launch.But a real airline needs to have real routes, and Eastern did not have that.
Miami was the original Eastern’s headquarters, and the carrier was the city’s largest employer from the mid-1970s until its 1991 shutdown.
Back in 2009, the Eastern Air Lines Group, led by its founder and CEO, Ed Wegel, purchased the intellectual property of the original carrier and announced in 2014 that it had filed a DOT application for the required certificates to operate. was not affiliated with the former Eastern Air Lines, which operated from 1928 to 1991 as one of the largest U. Wegel was the driving force behind the airline’s relaunch since the dark days of the 2008-09 recession when planning began.
The charismatic CEO succeeded in finally bringing The Great Silver Fleet back to Miami in December 2014.
The reasons behind Wegel’s departure from the privately held airline were not disclosed, though a number of people have said he was forced out.
Questions about the airline’s business plan viability could have been a factor.
The relatively low key carrier operates charter flights for major professional sports teams and tour operators with a fleet of 13 Boeing 737-300s and -400s.