AIRLINES

Airlines Change Stock Offerings: Trans World Airlines has delayed its proposed offering of 8 million shares of common stock after the explosion of Flight 800. The company said management needs to devote its attention to assisting the families of the crash victims and to the investigation into the cause of the explosion. TWA announced the offering last month to raise $159 million. TWA shares fell 56.25 cents at $8.6825 a share on the American Stock Exchange. Also, Reno Air announced it would withdraw its proposed stock offering due to the general decline in market conditions. “Although we’re pleased with our recent record financial results, the company’s stock price reflects the overall downturn of the equity market and a recent dramatic volatility in airline stocks,” said Paul Tate, Reno Air’s chief financial officer.