TWA Suffers $169-Million Loss
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Trans World Airlines said today it lost $169.6 million in the first quarter because of price-cutting, a flight attendants’ strike and a reduction in overseas travel prompted by recent terrorism.
Meanwhile, NWA Inc., the Minneapolis-based parent of Northwest Airlines, also cited discounted fares for a $16.4- million first-quarter loss compared with a year-earlier profit of $798,000. TWA’s latest quarterly loss widened from a year-earlier deficit of $74.3 million, and the airline indicated that it expects its losses to continue in the current quarter.
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