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Aug 30, 2023 · 1993: TWA completes reorganization. 1995: TWA files for bankruptcy protection and completes a second financial reorganization. 2001: TWA files for bankruptcy protection for a third time and is sold to American Airlines. 2003: TWA ceases its airline operations as an LLC owned by American Airlines.
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Trans World Airlines (TWA) was a major airline in the United States that operated from 1930 until it was acquired by American Airlines in 2001. It was formed as Transcontinental & Western Air to operate a route from New York City to Los Angeles via St. Louis, Kansas City, and other stops, with Ford Trimotors .
Feb 10, 2022 · Deregulation of the airline industry, several accidents, shoddy management, and three bankruptcies led to the demise of TWA. The airline was sold to American Airlines in January 2001, after...
Oct 10, 2024 · Although it continued to operate as usual, the company filed for bankruptcy (to enable timely reorganization) in 1992. Despite emerging from bankruptcy the following year, TWA continued to operate at a loss and announced in January 2001 that American Airlines would acquire its assets.
May 29, 2020 · In 1991, Icahn sold TWA’s coveted London routes to American Airlines for $445 million. Some believed that the loss of these valuable assets accelerated TWA's demise. In 1992, TWA filed for bankruptcy. A year later, in 1993, it emerged with 55% of the company under creditor ownership.
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Dec 1, 2016 · Trans World’s rough 1990s saw labor disputes with union groups and poor media reports. These factors would eventually lead to two bankruptcies in 1992 and 1995 and on the verge of bankruptcy again in 2000. American was also keen on acquiring TWA’s St. Louis hub as a relief for busy Chicago O’Hare.
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Dec 1, 2019 · It may be nearly 20 years since one of America's most venerable airline brands ceased operations and was acquired by American Airlines on Dec. 1 2001, but for TWAers, Trans World Airlines will never be forgotten.
