EASTERN PACT MAY GIVE PILOTS 21% OF THE AIRLINE
The pilots at Eastern Air Lines Inc. could end up with a 21 percent stake in the airline in return for about $100 million in work-rule and benefits concessions, according to a top official of the pilots' union. In a taped telephone message to his members, Richard H. Heckenberger, a pilot at Eastern and the chairman of Council 51 of the Airline Pilots Association, said that the agreement reached last Friday calls on Eastern to issue ''subordinated debt securities that will be converted into equity.'' Mr. Heckenberger added: ''This will mean we will own 21 percent of Eastern Airlines, which is one hell of a statement. Never before in the airline industry has this happened.''

