Eastern expects to earn a profit for the rest of ’86.

According to a preliminary proxy statement filed with the SEC, the carrier indicated that the profit will not be enough to offset a $110.6-million loss from the first quarter of 1986. Eastern Airlines stands to lose a total of about $57.6 million this year, according to an earnings projection statement detailed in the proxy statement. The proxy also provided new details into Eastern’s takeover by Texas Air Corp. According to the proxy, if the merger goes through, the airline’s common stockholders would receive $6.25 in cash and a $3.75 liquidation preference of a new issue of cumulative junior preferred stock of Eastern for each common share they hold.