Word: twa
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Taking less than four hours to reach a decision, a Texas jury cleared American Airlines of charges of "predatory pricing" in last summer's airfare wars. The victory cleared the way for more of what American's CEO Robert Crandall called "continued vigorous price competition." Meanwhile TWA received court permission to emerge from bankruptcy and immediately announced a celebratory two-for-one ticket sale...
Militants seeking independence for Croatia have struck inside the U.S. in the past. In December 1975 Croatian nationalists were suspected of planting a bomb in a luggage locker at La Guardia Airport, killing 11 people and injuring 75. Less than a year later, Croats hijacked a TWA jet traveling from New York City to Chicago and eventually diverted it to Paris. As part of that operation, the group also planted a bomb at Grand Central Terminal, which killed a police officer who tried to defuse it. In June 1980 Croatian "freedom fighters" detonated a bomb inside the museum...
...MERE MENTION OF THE NAME OF FINANCIER Carl Icahn once sent chills through corporate boardrooms. That was before he got into the airline business. After seven long years of trying to make a go of TWA, Icahn has announced that he is giving up. As part of a reorganization plan that should enable the battered carrier to emerge from Chapter 11 bankruptcy protection early next year, Icahn agreed to provide $615 million in cash, loans and pension-fund guarantees. The deal will put the shrunken carrier on sounder financial footing, though it remains to be seen whether TWA can survive...
...aircraft. And just a week after industry leader American Airlines was forced to let go 576 of its managers, Delta chairman Ronald Allen conceded that layoffs and pay cuts may be necessary at his carrier too. Perhaps the most dramatic evidence of the industry's deepening distress is TWA's decision in effect to call in the cavalry. Chrysler chairman Lee Iacocca, who will retire at the end of this month from the company he once saved, is considering taking on the resurrection of TWA as his next big challenge...
REPUBLICAN PARTY CHAIRMAN RICH BOND LOVES TO FLY, AND it shows. Bond was the only member of the G.O.P. high command to ride first class on the 8:15 a.m. TWA flight from St. Louis to Washington after the first presidential debate. Seems he took a lot of heat for it from the bigwigs back in coach class, including White House chief of staff James Baker, presidential pollster and official campaign chairman Robert Teeter and Budget Director Dick Darman. "I've visited 35 states since February," Bond says, "and I've accumulated several hundred thousand frequent-flyer miles, which...