Eastern Air Lines
Eastern's website overflows with praise for the history and personalities of the original Eastern, but the two airlines really share nothing beyond the name and logo. Old Eastern was one of the pre-deregulation "big four." Conversely, the new Eastern will probably start out by flying charters to nearby beach destinations for big tour operators in the East and Midwest.
What's with this recycling the names of failed giants, anyhow? During a previous such attempt, one industry pundit quipped, "Naming a new airline 'Pan American' makes as much sense as naming a new nuclear power plant 'Chernobyl.'" Accordingly, "Eastern" is a strange choice. In terms of customer appeal, the original airline was the Spirit or Ryanair of its generation: At one point, an organization called the WHEAL (We Hate Eastern Air Lines) Club had thousands of members.
Prognosis: The new Eastern can probably carve out a modest niche providing regional lifts for tour operators. But growing to legacy status or even approaching the reach of the original? Meh.