AIRLINES

Airline Bidding Battle Settled: American Airlines won a hardball bidding contest for the Chicago O’Hare assets of troubled Trans World Airlines after TWA’s creditors rejected a higher bid from United Airlines. The action means American, United’s major rival not only at O’Hare but nationally, will increase its presence at the busiest U.S. airport through the purchase of TWA’s 40 takeoff and landing slots and three gates. Although the United bid of $235 million was worth more, an attorney for TWA creditors said the American offer--at $221 million--was preferred because his clients believe that it will still mean more money for them.