Word: twa
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Dates: during 1990-1999
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Another factor that could scotch a settlement is the imprisonment in Germany of two Lebanese brothers, Mohammed and Abbas Hammadi. Tried and jailed for, respectively, the 1985 TWA hijacking and the abduction of two German relief workers, the Hammadis are an unpredictable wild card in the hostage negotiations. The Hammadi family claims to hold the two Germans hostage and has warned the leadership of Hizballah, to which it belongs, that they will not go free until the imprisoned brothers are released...
...tart response that Germany "will not be blackmailed," Bonn lapsed into silence. Germany's refusal to swap convicted criminals for kidnapped hostages is well known, and any second thoughts would undoubtedly be checked by pressure from Washington, especially since Mohammed Hammadi was convicted for his role in the 1985 TWA skyjacking, which resulted in the murder of U.S. Navy diver Robert Stethem. How critical the Hammadis will prove in any final settlement remains uncertain. While Hizballah has asserted that it wants the brothers back, it is possible that the demand is merely a noisy tactic designed to wrest concessions...
There is at least one other wild card: the future of the Lebanese brothers Mohammed and Abbas Hammadi. The two members of a prominent Shi'ite family associated with Hizballah are imprisoned in Germany -- Mohammed for his part in the 1985 TWA hijacking, Abbas for the abduction of two German businessmen. Some Lebanese and Syrian officials believe that Leyraud's seizure was an attempt by a third Hammadi to secure the release of his brothers. Western intelligence officials say the Hammadi family has warned the leadership of Hizballah that it will release none of its hostages until the Hammadi brothers...
...While TWA will emerge with a cleaner balance sheet, it is still stuck with a frayed route structure and one of the oldest fleets in the world (80% of its jets are more than 10 years old, vs. 35% for industry leader American). Says Edward Starkman, who follows the airline industry for PaineWebber: "TWA is one of the great weaklings of the business. The capital required to turn this company around would make your head spin: tens of billions of dollars in new planes alone...
Having tentatively stabilized TWA's finances, Icahn is bidding against industry giants Delta and United for choice Pan Am routes to Europe. He may have help from American, which does not want its large rivals to capture those assets. TWA could finance the deal by selling some of the routes to American and keep some to bolster its own strength. Icahn has always insisted that an executive with his own money on the line makes a better manager. Now he's got to prove...