Icahn’s Operation of TWA Hit

The union representing TWA flight attendants charged today that the airline’s future and the safety of the flying public are jeopardized by financier Carl Icahn’s proposal to take the airline private.

The flight attendants asked the Department of Transportation to investigate Icahn’s fitness to continue operating TWA. The union charged that since Icahn took control of TWA two years ago, he has “milked” the airline’s cash reserves and sold off assets to finance his stock market and takeover ventures, instead of buying new airplanes and safety equipment for the TWA fleet, one of the oldest in the U.S. industry. Icahn is asking TWA shareholders at a meeting Sept. 7 to sell their stock to him.