OTHER NEWS - Aug. 10, 1991
From Times Staff and Wire Reports
More Money Troubles at TWA: Trans World Airlines ran into trouble in its fiscal reorganization when a major creditor demanded that the troubled airline turn over 189 takeoff and landing slots at four major airports. The TWA slots in Chicago, New York and Washington, along with spare parts at 16 airports, had been put up by TWA to cover $300 million in loans from Shawmut Bank of Boston. TWA defaulted on repayment in January. In U.S. District Court, Shawmut attorney Jeffrey F. Jones sought an immediate preliminary injunction turning over the slots to the bank. Shawmut’s demands could jeopardize the restructuring plan that Mt. Kisco, N.Y.-based TWA said it had reached with creditors.
