The medal's obverse bears biplane with decorated fuselage labeled "EASTERN AIR TRANSPORT INC. / US MAIL No 19" flying from right to left; in background, route plan with ten stops from Miami to New Brunswick. Around, · 1928 · FIFTY YEARS OF SERVICE · 1978 · / EASTERN AIRLINES
The reverse bears companiy's logo at top with multi-line inscription: EASTERN / This 50th Anniversary medallion / contains metal from most of the aircraft / Eastern has flown since the Pitcairn Mailwing / and from the Apollo spacecraft as well. / It commemorates the progress we have made / together over the last 50 years in attaining the / highest standards of air transportation. / It also symbolizes our dedication and commitment to excellence in the future. / Congratulations, / (Frank Borman signature) / Frank Borman / President
Eastern was one of the "Big Four" domestic airlines created by the Spoils Conferences of 1930, and was headed by World War I flying ace Eddie Rickenbacker in its early years. It had a near monopoly in air travel between New York and Florida from the 1930s until the 1950s and dominated this market for decades afterward.
In the late 1970s and early 1980s, during the deregulation, labor disputes and high debt loads strained the company under the leadership of former astronaut Frank Borman. Frank Lorenzo acquired Eastern in 1985 and moved many of its assets to his other airlines, including Continental Airlines and Texas Air. After continued labor disputes and a crippling strike in 1989, Eastern ran out of money and was liquidated in 1991.
Before becoming president of Eastern Air, Frank Borman was one of the Apollo 8 astronauts, which might help explain how metal from that spacecraft ended up in the planchets.
The oval medal measures 77.2mm x 62.8mm and was struck in bronze. Neither mint nor mintage, nor the artist who designed this handsome medal are known at this time.