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Airlines

August 16, 1994|From Times Staff and Wire Reports

TWA Reduces Operating Losses: Trans World Airlines Inc. said its operating loss in the quarter ended June 30 totaled $17.4 million, compared to a $31-million loss a year earlier. But higher debt-interest costs resulted in a $58.2-million net loss in the period for the St. Louis-based carrier, up from a $52.3-million net loss a year earlier. TWA's revenue climbed 12% to $885.8 million, from $792.9 million. The airline, alluding to plans to overhaul its business and negotiate new contracts with its unions, said the results confirm that TWA "must remake itself" to be profitable and competitive.

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