AIRLINES

2nd TWA Reorganization Plan OKd: A bankruptcy judge approved Trans World Airlines’ plan to turn over more of the company to creditors and dilute the employees’ stake. The confirmation, which comes just past a month after the airline filed for bankruptcy protection, virtually completes the carrier’s second court-supervised reorganization. For St. Louis-based TWA, the reorganization means $50 million less in interest payments per year and a better chance at taking advantage of profitable times for the airline industry. With improved credit, the airline will add at least 34 planes by 1996, replacing older aircraft that fail to meet federal noise standards, Chief Executive and President Jeffrey Erickson said.