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TRANSPORTATION

From Times Staff and Wire Reports

TWA Deal Reported: British Airways PLC and USAir Group Inc. plan to take over the assets of Trans World Airlines Inc., a British newspaper reported. The Sunday Times quoted USAir’s president and chief executive, Seth Schofield, as saying that his company wants to buy TWA’s European routes and its business in St. Louis. The British carrier would not comment on the article. Analysts estimated the purchase price at $300 million. British Airways and USAir announced an agreement July 21 in which the British carrier would invest $750 million in Arlington, Va.-based USAir in exchange for a 44% equity stake and 21%. If a deal were cut to buy TWA--which is currently operating under Chapter 11 bankruptcy protection from its creditors--it would create a dominant world airline with extensive international and domestic routes.


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