CHRONOLOGY OF TRANSAMERICA AIRLINES

1947--Airline is founded as Los Angeles Air Service by Kirk Kerkorian with one used C-47 bought for $12,000. Name is subsequently changed to Trans International Airlines.

1962--Kerkorian sells airline to Studebaker, then buys it back two years later for less than he sold it for.

1968--Kerkorian sells airline to Transamerica Corp. for $141 million.

1976--Transamerica acquires Saturn Airways and merges Saturn into the newly renamed Transamerica Airlines.

1985--Airline loses $6 million from flight operations--its first annual loss since 1974. Red ink increases to $11.2 million during the first six months of 1986.

1986--With no buyer in sight, airline announces it will cease flight operations and sell its aircraft.