Frank Lorenzo

Frank Lorenzo
Frank Lorenzo in 2012
Born
Francisco Anthony Lorenzo

(1940-05-19) May 19, 1940 (age 84)
New York City, United States
Alma materColumbia University
Harvard Business School
OccupationInvestment
SpouseSharon Neill Murray
Children4

Francisco Anthony "Frank" Lorenzo[1][2] (born May 19, 1940) is an American businessman. He managed Continental Airlines and Texas International Airlines between 1972 and 1990, through airline deregulation. Lorenzo also led the creation and management of the holding company for the group, Texas Air Corporation, through which New York Air was formed in 1980 and Eastern Air Lines was acquired in 1986, as well as Frontier Airlines and People Express Airlines.

As an airline manager, Lorenzo earned a reputation for low fares and cost cutting, as well as union busting, as he and other airline managers pursued an affordable business model for the newly deregulated aviation era.[3][4] Lorenzo was esteemed by airline regulators for his commitment to low fares, while others in the industry referred to Lorenzo as "the embodiment of deregulation".[4] As R. E. G. Davies, the former aerospace historian at the Smithsonian Institution put it, Lorenzo "challenged the entire structure of cost-and-revenue relations that had long existed in a closely protected corporate environment and in doing so generated a cause célèbre of historic proportions".[5]

Since 1990, Lorenzo has been chairman of Savoy Capital, Inc., an asset management and venture capital firm, and he has served as a trustee for The Hispanic Society of America since 2005.[1][6]

  1. ^ a b "Savoy Capital Management". Archived from the original on 2017-04-18. Retrieved 2008-07-28.
  2. ^ Skrzycki, Cindy (1989-03-09). "For Frank Lorenzo, Controversy is Business as Usual". The Washington Post. p. A14.
  3. ^ Thomas, Kate (1980-10-12). "Ex-TIA executives face battle for commuter market in N.E.". Houston Post.
  4. ^ a b Delaney, Kevin J. (1999). Strategic Bankruptcy: How Corporations and Creditors Use Chapter 11 to Their Advantage. University of California Press. ISBN 0-520-07359-2.
  5. ^ Davies, R.E. G. (1987). Rebels and Reformers of the Airways. Smithsonian. pp. 137–139. ISBN 0874743540.
  6. ^ "About Us". 6 June 2015. Retrieved 2021-05-24.