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BUSINESS
March 10, 2001 | Associated Press
A federal bankruptcy judge strongly criticized a bid by billionaire Carl Icahn for the assets of Trans World Airlines Inc., and suggested that a proposal by AMR Corp.'s American Airlines is the only valid offer. U.S. Bankruptcy Judge Peter Walsh agreed with a TWA attorney who said the Icahn reorganization plan was unacceptable because it arrived late and contained few details.
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BUSINESS
January 25, 2001 | From Reuters
Two U.S. airlines have come forward to challenge the planned $500-million sale of Trans World Airlines Inc. to American Airlines, saying they could make more attractive offers for TWA's assets. In court papers released Wednesday, Continental Airlines Inc. said it would be willing to pay as much as $400 million for some of those assets as part of an alternative plan for TWA's emergence from bankruptcy. TWA, the eighth-largest U.S.
BUSINESS
May 16, 1995 | Times Staff and Wire Reports
Trans World Airlines Inc. said it struck a deal with some of its creditors to restructure its finances and wipe about $500 million in debt off its books. . . . Limited Inc. said its board approved a plan announced in March to split its Victoria's Secret lingerie business and other operations into a separate company and pay a dividend to shareholders. . . . AT&T Corp. said it will raise long-distance prices for interstate business calls an average of 5%.
BUSINESS
July 13, 1998 | Bloomberg News
Trans World Airlines Inc. and the group representing its 2,500 pilots have reached a tentative contract agreement, ending more than a year of negotiations. If ratified, the pact will give the pilots an immediate wage increase and put them on par with workers at other airlines, said James Martin, the St. Louis-based carrier's chief labor negotiator. The union said its pilots earn about 60% less than those at other major airlines.
BUSINESS
June 12, 1992 | From Times Staff and Wire Reports
TWA to Stop Serving Meals on Short Flights: Trans World Airlines Inc., which is operating under the supervision of a bankruptcy court, will stop serving meals on flights of 549 miles or less after this month. Passengers on all flights will still be able to get soft drinks, cocktails and snacks, a TWA spokesman said. TWA will be able to reduce the cabin crew on some flights to three, from four, because of the change. The spokesman said no layoffs are planned.
BUSINESS
January 17, 2001 | From Associated Press
Carl Icahn, the billionaire financier who formerly ran Trans World Airlines Inc., is reportedly trying to line up partners for a rival bid against American Airlines' offer for the financially ailing carrier's assets. Icahn's attorney, Edward Weisfelner, told the Dallas Morning News in Tuesday's editions that he will not reveal the identity of any third party his client has contacted to join his bid. "The ground rules . . . make it awfully difficult to afford a competing bid," Weisfelner said.
BUSINESS
November 8, 2000 | JAMES F. PELTZ, TIMES STAFF WRITER
Trans World Airlines Inc., crippled by a decade of red ink, is now celebrating its 75th anniversary in ignominious fashion: The stock-market value of the entire airline isn't much more than the sticker price of a single new 747 jetliner. The St. Louis-based airline operates a fleet of 190 jets, serves destinations on three continents and employs more than 20,000 people. Its domestic hubs are in St.
BUSINESS
November 19, 1999
* Trans World Airlines Inc. said that it is ending service to three European cities as it starts flying to seven other destinations, and would take an $80-million charge as a result. TWA said it will end service to Rome, Madrid and Barcelona, Spain, beginning Jan. 10. The carrier will use aircraft from the canceled routes to operate new services to such destinations as Puerto Rico and Mexico. * Borders Group Inc. said its loss widened slightly in its third quarter to $1.
BUSINESS
July 13, 1998 | Bloomberg News
Trans World Airlines Inc. and the group representing its 2,500 pilots have reached a tentative contract agreement, ending more than a year of negotiations. If ratified, the pact will give the pilots an immediate wage increase and put them on par with workers at other airlines, said James Martin, the St. Louis-based carrier's chief labor negotiator. The union said its pilots earn about 60% less than those at other major airlines.
BUSINESS
April 14, 1998 | Bloomberg News
Trans World Airlines Inc. said it signed a letter of intent for 24 new MD-83 planes from Boeing Co. for delivery in 1999 in an order worth about $1 billion, based on the list price of the planes. St. Louis-based TWA plans to acquire the aircraft through a long-term leasing arrangement, the carrier said in a filing with the Securities and Exchange Commission.
BUSINESS
December 16, 1995 | Times Staff and Wire Reports
European Union leaders chose "Euro" as the name for their planned single currency, to be launched Jan. 1, 1999. . . . General Electric Co. increased its share buyback program 80% to $9 billion, placating investors concerned that the company wasn't making use of its excess cash. . . . Trans World Airlines Inc. said it has withdrawn a lawsuit against financier Carl Icahn's Las Vegas-based travel agencies over the sale of TWA tickets.
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