September 7, 2001 |
TWA Airlines President William Compton, a former pilot picked to run Trans World Airlines' operations who later engineered its sale to AMR Corp., will retire Oct. 1. Compton, 54, remained at TWA after the sale to help guide its combination with AMR's American Airlines. He had said he would step down at some point in the process. TWA was bought by Fort Worth-based AMR, making it the largest airline company, last April for $2.8 billion.
July 12, 2001 |
AMR Corp.'s American Airlines pilots union approved an agreement with the largest carrier on combining operations with those of Trans World Airlines Inc. The Allied Pilots Assn. board Tuesday endorsed the plan, which protects pilots at American as of April 10 from being furloughed as a result of the TWA acquisition and restores seniority for about 600 American pilots laid off in the 1990s, the union said on its Web site. The agreement doesn't require a vote by the union's 11,000 members.
May 25, 2001 |
Trans World Airlines Inc., which has been acquired by AMR Corp., agreed to pay $2.6 million to settle sexual harassment claims by female employees at John F. Kennedy International Airport. The lawsuit, filed in June 1998, alleged that male supervisors groped women, exposed themselves, made sexual propositions or lewd comments and used offensive language. The suit also claimed that women were subjected to retaliation if they complained, according to the U.S.
April 10, 2001 |
AMR Corp. closed its $742-million purchase of bankrupt Trans World Airlines Inc. on Monday after clearing a final legal hurdle. The deal makes AMR's American Airlines the world's largest air carrier. "It's done, the deal's closed," TWA spokesman Mark Abels said. "We feel great. This is a great solution for TWA." At a party at TWA's home hub airport in St. Louis, thousands of workers cheered the deal, which saved them from an uncertain future with financially ailing TWA, Abels said.
April 9, 2001 |
The sale of Trans World Airline's assets to the parent company of American Airlines is expected to close today, making the Fort Worth carrier the largest in the world--for now. AMR Corp. will pay $742 million, pending a U.S. Bankruptcy Court's approval, for TWA, plus the assumption of $3.5 billion in debt. All potential roadblocks to the deal were lifted last week with the end of court action pursued by former TWA creditors, including former TWA chairman Carl Icahn. On Friday, U.S.
April 7, 2001 |
The Transportation Department gave American Airlines clearance to take over the domestic and international operating authority of Trans World Airlines. The DOT action transfers TWA's scheduled passenger and cargo service and routes to a subsidiary set up by American to handle TWA's operations until its planned purchase of the financially ailing airline is completed. American is expected to close the $742-million deal Monday. Earlier, a district judge in Wilmington, Del.