AIRLINES
- Share via
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%. The stock will be listed on the American Stock Exchange, but it was uncertain when trading would begin.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
