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Trans World Airlines Inc

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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.
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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
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
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
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
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.
BUSINESS
November 4, 1993 | From Times Staff and Wire Reports
TWA Passes to New Ownership: Trans World Airlines Inc. emerged from Chapter 11 bankruptcy protection as the property of its employees and creditors. The carrier is being run by industry veterans, among them William Howard, former chairman of Piedmont Airlines. TWA is to distribute new common stock to its creditors, who now hold 55% of the airline, and to the 25,000 employees who together own 45%.
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