Trans World Airlines Inc.: The New York...
Trans World Airlines Inc.: The New York carrier reported record profit of $250 million last year, more than double 1987’s old record of $106 million. Revenue rose 8% to $4.36 billion. The firm, which investor Carl C. Icahn took private in October, credited the results to a $163-million gain from stock transactions, including the sale of the carrier’s 20.6 million shares of Texaco Inc. to an Icahn affiliate. The airline also earned about $50 million from a judgment received as a result of a 26-year-old lawsuit against Howard Hughes.
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