November 8, 2000 |
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.
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.
April 14, 1998 |
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.
December 16, 1995 |
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 Trans World Airlines Inc. said it has withdrawn a lawsuit against financier Carl Icahn's Las Vegas-based travel agencies over the sale of TWA tickets.
November 4, 1993 |
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%.