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From Times Staff and Wire Reports

Judge Delays TWA Attempt to Sell Chicago Slots: A bankruptcy court judge told Trans World Airlines to seek better offers for prized assets in Chicago that are being sought by archrivals American Airlines and United Airlines. Judge Helen S. Balick, who is overseeing TWA’s bankruptcy case, delayed the matter until July 9. She told TWA to seek more bids from the two airlines as well as “some very heavy negotiations” with Shawmut Bank, which is objecting to the sale until it is assured that its claims on the Chicago slots will be satisfied. United has bid $235 million for the 40 slots and three terminal gates, more than American’s bid of $221 million. Both carriers have hubs at O’Hare.

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