Frank Lorenzo

Businessperson, Organization leader

1940 –

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Who is Frank Lorenzo?

Francisco Anthony "Frank" Lorenzo is an American businessman and philanthropist. He is most famous for his leadership of Texas International Airlines and its successor holding company Texas Air Corporation between 1972 and 1990, through which he formed or acquired a number of major U.S. airlines including Continental Airlines, Eastern Air Lines, Frontier Airlines, New York Air and Peoplexpress Airlines.

As an airline manager, he gained a reputation of union busting, stemming from his leadership during the 1983 bankruptcy of Continental that enabled the company to void its union contracts, and during the strike and bankruptcy of Eastern that eventually led to its permanent shutdown in 1991. Lorenzo’s history is contentious, both “despised by unions and admired by airline strategists.” In 1990, after Lorenzo liquidated his holdings after 18 years in the airline industry, Alfred E. Kahn, the “main architect of airline deregulation,” offered this perspective on Lorenzo’s leadership: “I don’t think there is any question that he saved Continental, but his tactics obviously didn’t work when he took over Eastern.”

Since 1990, Lorenzo has been chairman of Savoy Capital, Inc., professionally devoted to asset management, private investments and venture capital, as well as a number of philanthropic activities.

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Born
May 19, 1940
Queens
Spouses
Religion
  • Catholicism
Nationality
  • United States of America
Profession
Education
  • Columbia University
  • Harvard Business School
  • Columbia College of Columbia University in the City of New York

Submitted
on July 23, 2013

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"Frank Lorenzo." Biographies.net. STANDS4 LLC, 2022. Web. 25 May 2022. <https://www.biographies.net/people/en/frank_lorenzo>.

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