TWA President Who Guided Sale to Retire
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TWA Airlines President William Compton, a former pilot picked to run Trans World Airlines’ operations who later engineered its sale to AMR Corp., will retire Oct. 1.
Compton, 54, remained at TWA after the sale to help guide its combination with AMR’s American Airlines. He had said he would step down at some point in the process.
TWA was bought by Fort Worth-based AMR, making it the largest airline company, last April for $2.8 billion. TWA filed for Chapter 11 Bankruptcy Court protection for a third time before its acquisition by AMR.
Compton got rid of TWA’s older, less fuel-efficient airplanes, rallied employees and improved on-time performance.
AMR shares fell 84 cents to $31.15 on the NYSE.
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