Judge Approves American Buyout Of TWA

A federal judge in Wilmington, Delaware, has accepted American Airlines’ offer to buy the assets of St. Louis-based Trans World Airlines. The purchase, worth $742-million, must still be approved by the U.S. Justice Department. In addition to the purchase, American will assume $3-and-a-half billion in TWA debt. American has said it plans to offer jobs to most of the 20,000 TWA workers affected by the buyout. Governor Holden has been quick to weigh in on the developments. He calls the decision by the judge great news for the thousands of TWA employees who live and work in St. Louis and Kansas City. and good news for Missouri’s economy. Photo by Bill Greenblatt, UPI.