TWA to Lease 24 New Boeing Planes
Trans World Airlines Inc. said it signed a letter of intent for 24 new MD-83 planes from Boeing Co. for delivery in 1999 in an order worth about $1 billion, based on the list price of the planes. St. Louis-based TWA plans to acquire the aircraft through a long-term leasing arrangement, the carrier said in a filing with the Securities and Exchange Commission. While the airline said it wasn’t possible to pinpoint the amount of rental payments, it said the deal would represent a “substantial financial commitment.” Boeing shares fell $1.56 to close at $53.63 on the NYSE. TWA shares rose 13 cents to close at $10.19 on the American Stock Exchange.