Eastern Airlines shut down Friday night after 62 years of flying, the company announced, ending a long battle against mounting debts, militant unions and industrywide woes.

All flights were canceled as of midnight (EST) Friday.Eastern officials declined late Friday to elaborate, saying trustee Martin R. Shugrue Jr. would hold a news conference Saturday.

An Eastern official speaking on condition of anonymity said the company remained in Chapter 11 bankruptcy reorganization, which meant it hadn't filed for Chapter 7 liquidation.

Eastern said ticket-holders would receive full refunds but that it was also working out arrangements with other carriers to honor tickets.