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80-404: The plant at its peak in the 1960s and 1970s employed more than 6,000 people who worked on repairing the entire fleet of Trans World Airlines (and other airlines under contract) and it was Kansas City's biggest employer. Since TWA's successor American Airlines began downsizing in preparation for a total abandonment effective September 2010, three companies moved their headquarters and plants into

160-514: A "sworn atheist", was a cantor , and later a substitute teacher. His mother, Bella (née Schnall) also worked as a schoolteacher. Icahn graduated from Princeton University with an A.B. in philosophy in 1957 after completing a senior thesis titled "The Problem of Formulating an Adequate Explication of the Empiricist Criterion of Meaning." He entered New York University School of Medicine , but dropped out after two years to join

240-594: A $ 150 million bond issue for the TWA hub there. TWA vetoed plans for a Dulles International Airport –style hub-and-spoke gate structure. Following union strife, the airport ultimately cost $ 250 million when it opened in 1972, with Vice President Spiro Agnew officiating. TWA's gates, which were intended to be within 100 feet (30 m) of the street, became obsolete because of security issues. Kansas City refused to rebuild its terminals as Dallas Fort Worth International Airport rebuilt its similar terminals, forcing TWA to look for

320-415: A $ 4 billion stock deal to acquire King Pharmaceuticals , Icahn purchased a large block of stock and threatened a proxy fight , urging shareholders to vote against the acquisition. In February 2005, Mylan gave up its efforts to acquire King. In 2005, XO Communications announced its intention to sell the wired part of its business for $ 700 million to Icahn, who was then chairman and a large shareholder;

400-489: A ' union buster ', TWA's unions objected to the sale, and instead supported a takeover deal from Carl Icahn by offering concessions on condition that Icahn's deal be accepted by the board. Directors subsequently agreed, and the Texas Air deal was scrapped. Following the sale, Icahn appointed himself as chairman of the airline. Also in 1985, TWA closed its hub at Pittsburgh International Airport after nearly 20 years as

480-543: A 10% stake in Netflix . In November 2012, he tried to gain control of the board of directors of Oshkosh Corporation . In February 2013, Forbes listed Icahn as one of the 40 highest-earning hedge fund managers. By April 2013, Icahn accumulated a 9.2% stake in Nuance Communications . On August 2, 2013, Icahn sued computer giant Dell and its board in an attempt to derail a $ 24.4 billion buyout bid by

560-575: A 6.9% stake in Mentor Graphics , increasing to 14% in July. Mentor's retaliation with a shareholder rights plan failed to deter Icahn who, in February 2011, made an unsuccessful offer to buy the company for about $ 1.86 billion in cash. In January 2011, Icahn offered to buy Clorox for $ 10.2 billion. By February he had accumulated a 9.08% stake in the company. In October 2012, Icahn reported

640-558: A Delaware suit against Hughes and Hughes Tool Co. On January 10, 1973, the U.S. Supreme Court ruled against TWA in the federal case. However, on May 15, 1986, Delaware ruled in favor of TWA for the state case, eventually awarding TWA $ 48,346,000. TWA started operating its Convair 880s on January 12, 1961 but would report a net loss of $ 38.7 million for 1961. TWA reported a net profit of $ 19.8 million in 1963, $ 37 million in 1964, and $ 50.1 million in 1965. TWA stock went from $ 7.5 per share in 1962 to $ 62 in 1965. Under new management,

720-420: A consequence, Hughes was able to hire Damon to run TWA. Damon described air transportation as "a race between technology and bankruptcy." Over the next 7 years, Damon introduced practices within the industry that became standard, such as multi-class service with first class and economy class. Damon also brought financial stability by eliminating the company deficit, which was reflected in the stock price rising into

800-542: A controlling stake in Tappan and forced the sale of the company to Electrolux , making a profit of $ 2.7 million, or doubling his investment. In 1979, he acquired Bayswater Realty & Capital Corporation. In 1983, he acquired ACF Industries and in 1985 he sold those shares to Phillips Petroleum , making a $ 50 million profit. In 1985, by pooling his funds with investor funds and funds borrowed from banks, Icahn acquired 50% of Trans World Airlines , and he completely acquired

880-625: A few months before Oracle Corporation announced its acquisition of BEA Systems, which Icahn supported. Beginning in 2007, Icahn gradually increased his stake in Biogen . In April 2007, Icahn sold his casino interests in Nevada , including the Stratosphere Las Vegas , Arizona Charlie's Boulder , Arizona Charlie's Decatur , and Aquarius Casino Resort which were operated through American Casino & Entertainment Properties ,

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960-761: A hub. The following year, TWA acquired Ozark Air Lines , a regional carrier based at Lambert-St. Louis International Airport, for $ 250 million. This transaction increased TWA's share of enplanements in St. Louis from 56.6% to 82%. TWA had pilot bases in many European cities such as Berlin , Frankfurt , Zürich , Rome , and Athens . These bases were used to provide crews for the Boeing 727s which TWA operated in its European route network. Its Boeing 727 aircraft served Cairo , Athens , Rome , London , Paris , Geneva , Berlin, Frankfurt, Hamburg , Stuttgart , Zürich, Amsterdam , Oslo , Vienna , and Istanbul . In 1987, Icahn moved

1040-469: A large number of them. Consequently, TWA had to manage excess capacity with a fleet of oversized planes that exceeded their actual requirements. By 1975, the financial obligations of some payrolls could only be fulfilled by promptly selling six Boeing 747 aircraft to the Iranian Air Force . The financial deal involving TWA, in which the jetliners were sold for around one-sixth of their true value,

1120-561: A lawsuit alleging "that she had been discriminated against 'because of poor complexion ... unattractive teeth' and legs that were 'not shapely'". New York governor W. Averell Harriman praised her hiring, saying the action "would raise American prestige abroad". Charles Sparks Thomas became president on July 2, 1958. The inaugural flight of TWA's Boeing 707 took place on March 20, 1959. In 1961, TWA introduced in-flight movies . In 1962, TWA started using Doppler radar on its international flights. In 1960, Hughes relinquished control of

1200-477: A new hub. Missouri politicians moved to keep it in the state and in 1982, TWA began a decade-long move to Lambert International Airport in St. Louis. On April 7, 1967, TWA became one of the first all-jet airlines in the USA with the retirement of their last Lockheed L-749A Constellation and L-1649 Starliner cargo aircraft. That morning aircraft ground-service personnel placed a booklet on every passenger seat throughout

1280-466: A proposed debt swap. In April 2009, Icahn engaged in a proxy battle for Amylin. In September 2009, he offered to buy the shares of XO he did not already own for $ 0.55 each. He later raised his offer to $ 0.80, which ultimately expired. In October, he resigned from the board of directors at Yahoo!, and by the following February had reduced his equity stake from a one-time high of 75 million shares to 12 million shares. In February 2010, Icahn, through

1360-461: A replacement aircraft, but the first sixty modern all-metal Boeing 247s were promised to Boeing 's sister company United Airlines (both were subsidiaries of United Aircraft and Transport Corporation ). TWA was forced to sponsor the development of a new airplane design. Specifications included the ability to fly the high altitude route between Winslow, Arizona , and Albuquerque, New Mexico , with one engine inoperative. Other specifications included

1440-514: A seat on the board of directors of Motorola, despite owning 3% of the company. On February 9, 2007, Lear Corporation 's board of directors accepted a $ 2.3 billion takeover offer from Icahn. That month he also invested $ 50 million in Motricity, a North Carolina-based provider of mobile content delivery technology. In September 2007, Icahn increased his stake in BEA Systems to 13.22%,

1520-459: A share, giving Hughes control, and Noah Dietrich was also placed on the board. Later, Hughes bought another $ 1,500,000 worth of stock. Paul E. Richter became executive vice president in 1938. A new order for five Stratoliners was placed on September 23, 1939, the first Stratoliner was delivered on May 6, 1940, and TWA initiated coast-to-coast flights on July 8, 1940. The planes could carry 16 night passengers in berths or 33 day passengers. The cabin

1600-521: A subsidiary of Icahn Enterprises, for $ 1.3 billion or $ 1 billion more than he paid for the properties, to a unit of Goldman Sachs . In March 2008, Icahn sued Motorola as part of his effort to gain four seats on Motorola's board and force a sale of its mobile business. In May 2008, Icahn purchased a large block of shares in Yahoo! , and shortly thereafter threatened to start a proxy fight to remove Yahoo's board of directors in response to their rejection of

1680-587: A subsidiary of his Icahn Enterprises LP, acquired the Fontainebleau Las Vegas for about $ 150 million. In March he was one of a group of lenders who purchased Tropicana Casino & Resort Atlantic City , bringing the company out of bankruptcy for $ 200 million. In March 2011, he conducted a failed takeover bid for Lionsgate Films . In May 2010, he announced the purchase of an 8.54% stake in Lawson Software . In May 2010, Icahn held

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1760-481: A takeover bid by Microsoft . Instead, he forced an agreement to expand Yahoo's board to eleven members, including Icahn and two others of his choice. In June 2008, Icahn launched a blog, The Icahn Report . In September/October 2008 Icahn was involved in the rejected attempted purchase of Imclone by Bristol-Myers Squibb and in the eventual sale of Imclone to Eli Lilly and Company for $ 6.5 billion in cash. In December 2008, he filed suit against Realogy over

1840-674: A third and final bankruptcy and was acquired by American Airlines. American laid off many former TWA employees in the wake of the September 11, 2001, attacks . TWA continued to exist as an LLC under American Airlines until July 1, 2003. American Airlines closed the St. Louis hub in 2009. TWA's corporate history dates from July 16, 1930, and the forced merger of Transcontinental Air Transport (TAT), Western Air Express (WAE), Maddux Air Lines, Standard, and Pittsburgh Aviation Industries Corporation (PAIC) to form Transcontinental & Western Air (T&WA) on 1 Oct. 1930. The companies merged at

1920-607: A transcontinental record of 13 hours and 4 minutes. On April 17, Frye was elected president of TWA. Throughout 1934, Tommy Tomlinson set further load and distance records with the DC-1. At the same time, TWA used its Northrop Gamma as an "experimental Overweather Laboratory", in a desire to fly at altitudes above the weather. The DC-1 was followed by the delivery of 32 Douglas DC-2s that started operations in May 1934 on TWA's Columbus–Pittsburgh–Newark route. Most were phased out by 1937 as

2000-552: Is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises , a public company and diversified conglomerate holding company based in Sunny Isles Beach, Florida . Icahn's business model is to take large stakes in companies that he believes will appreciate from changes to corporate policy. Subsequently, Icahn then pressures management to make the changes that he believes will benefit shareholders, and him. Widely regarded as one of

2080-725: Is on the Forbes 400 and has a net worth of approximately $ 6.7 billion to $ 7 billion. Since 2011, Icahn no longer manages money for outside clients. Investors can still invest in Icahn Enterprises . Icahn was born in Brooklyn to an Ashkenazi Jewish family. He was raised in the Far Rockaway neighborhood of Queens in New York City, where he attended Far Rockaway High School . His father, Michael Icahn,

2160-676: The Douglas DC-3 started service, but several DC-2s would be operational through the early years of World War II. TWA started using the DC-3 on June 1, 1937. The fleet included ten DST sleeper aircraft and eight standard DC-3 day versions. In 1934, following charges of favouritism in the contracts, the Air Mail scandal erupted, leading to the Air Mail Act of 1934 , which dissolved the forced Transcontinental/Western merger and ordered

2240-583: The KCI Intermodal Center , Kansas City SmartPort foreign trade zone on 800 acres (320 ha) across Runway 9/27 directly south of the plant being developed by Trammell Crow Company . 39°17′43″N 94°41′48″W  /  39.295284°N 94.696677°W  / 39.295284; -94.696677 Trans World Airlines Trans World Airlines ( TWA ) was a major airline in the United States that operated from 1930 until it

2320-547: The Star of Paris . The Italy route was initiated on 2 April and then extended to Cairo. Hughes flew the Star of California from Los Angeles to New York on February 15, 1946, in 8 hours and 38 minutes. Hollywood passengers included Cary Grant , Myrna Loy , William Powell , Frank Morgan , Walter Pidgeon , Tyrone Power , Edward G. Robinson . Hence TWA's reputation as the "airline of the stars". On October 21, 1946, TWA pilots went on strike. The strike finally ended when TWA and

2400-672: The Trans World Corporation (TWA's holding company) expanded to purchase Hilton Hotels , Hardee's , Canteen Corp., and Century 21 Realty . Employment grew to nearly 10,000 employees. In 1964, TWA started a program to assist in the United States export expansion effort that became known as the TWA MarketAir Corporate Logo to promote business passenger air travel and as a marketing tool to be used in air cargo sales. This marketing effort

2480-686: The Transpacific Route Case of 1969, TWA was given authority to fly across the Pacific to Hawaii and Taiwan, and for a few years, TWA had a round-the-world network. In 1969, TWA opened the Breech Academy on a 25-acre (100,000 m ) campus in the Kansas City suburb of Overland Park, Kansas to train its flight attendants, ticket agents, and travel agents, as well as to provide flight simulators for its pilots. It became

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2560-546: The United States Army Air Service to deliver the mail. However, Transcontinental opted to retain the T&;WA name. With the company facing financial hardship, Lehman Brothers and John D. Hertz took over ownership of the company. The Army fliers had a series of crashes, and it was decided to privatize the delivery with the provision that no former companies could bid on the contracts. T&WA added

2640-590: The military reserve force . In 1961, Icahn began his career as a stockbroker for Dreyfus Corporation . In 1963, he became an options manager for Tessel, Patrick & Co. and then he moved to Gruntal & Co . In 1968, with $ 150,000 of his own money and a $ 400,000 investment from his uncle, M. Elliot Schnall, Icahn bought a seat on the New York Stock Exchange and formed Icahn & Co., which focused on risk arbitrage and options trading. In 1978, in his first takeover attempt, he took

2720-495: The pilots union agreed to binding arbitration on November 15, 1946. Additionally, TWA lost $ 14.5 million in 1946, owed $ 4.34 million in short-term debt and $ 38.9 million in long-term debt. Yet Hughes opposed Frye's financing proposals. Frye and Hughes had a falling out in 1947. Hughes's financial advisor Noah Dietrich wrote that "Frye's inept handling of costs, his inefficient operations, his extravagance with new purchases of equipment, all these factors combined to nosedive

2800-527: The 60s. Carter L. Burgess then took over in 1957, but lasted less than a year, unable to work with Hughes' meddling. On May 31, 1949, TWA ordered 20 Lockheed 749As. They were operated by TWA for the next 17 years. On February 22, 1950, TWA signed a contract with the Glenn L. Martin Company for 12 Martin 2-0-2s and 30 Martin 4-0-4s . The first plane was delivered on July 14, 1950. TWA's Martin fleet

2880-576: The CEO, Michael Dell , in favor of his own rumored forthcoming bid. In October 2013, Icahn held 4.7 million shares of Apple Inc. The same month, Icahn acquired around 61 million shares in Talisman Energy , leading to a surge in the share price. Also that month, he sold about 50% of his shares in Netflix for a profit in excess of $ 800 million in less than one year. In November 2013, he acquired

2960-594: The Constellation in secret with Lockheed, and Hughes purchased 40 for TWA's use in 1939, through his Hughes Tool Company . On April 17, 1944, Hughes and Frye flew the TWA Constellation from Burbank, California , to Washington, D.C., in 6 hours 58 minutes. By the war's end, 20 Constellations had been built. TWA had 10 Constellations by the end of 1945 and acquired international routes. TWA inaugurated its New York-Paris route on February 5, 1946, with

3040-661: The Hardee's restaurant franchises. Financial woes in the 1970s included a flight attendants' strike, higher fuel prices after the Arab Oil Embargo , and airline deregulation . During the early 1970s, the aviation industry faced significant challenges due to a severe economic downturn. TWA, in particular, had difficulties as their Boeing 747s and Lockheed L-1011s flew with very low passenger numbers. TWA had originally purchased these planes not because they needed them for their operations, but rather because Pan Am had ordered

3120-719: The Hughes Tool Co. ordered 25 Lockheed L-1449 turboprops . On March 29, 1955, this order was changed to piston-powered L-1649As . Hughes transferred the planes to TWA in 1956, after receiving Civil Aeronautics Board approval. The first L-1649A was delivered on May 4, 1957. Fully reclining seats were later added to the airliner. In February 1956, Hughes Tool Co. placed an order with Pratt & Whitney for 300 jet engines, JT-3s and JT-4s . On March 2, 1956, Hughes Tool Co. placed an order for 8 domestic Boeing 707s , later increased to 15 aircraft on January 10, 1957, and an order for 18 international 707s on 19 March 1956, bringing

3200-430: The TWA stock from 71 at the war's end to 9 in 1947". The airline was losing $ 20,000,000 a year, was in danger of not being able to acquire fuel for its planes due to being deeply indebted to oil companies, and the pilot's union went on strike. Hughes provided $ 10,000,000 worth of financing, which was later converted to 1,039,000 shares, Frye was removed, and Hughes added 11 members to the board, giving him control. Thus ended

3280-510: The TWA system titled "Props Are For Boats". Between 1967–72, TWA was the world's third-largest airline by passenger miles, behind Aeroflot and United. During the mid and late 1960s, the airline extended its reach as far east as Hong Kong from Europe and also introduced service to several destinations in Africa. In 1969, TWA carried the most transatlantic passengers of any airline; until then, Pan American World Airways had always been number one. In

Kansas City Overhaul Base - Misplaced Pages Continue

3360-426: The United States, TWA was spun off from its holding company in 1984. Carl Icahn acquired control of TWA and took the company private in a leveraged buyout in 1988. TWA became saddled with debt, sold its London routes, underwent Chapter 11 restructuring in 1992 and 1995, and was further stressed by the crash of TWA Flight 800 in 1996, which would become the third deadliest aviation accident in U.S. history. TWA

3440-583: The West/Midwest (via Kansas City) and New York City (via John F. Kennedy International Airport ) to Europe and other world destinations. As part of this strategy, TWA's hub airports were to have gates close to the street. The TWA-style airport design proved impractical when hijackings to Cuba in the late 1960s caused a need for central security checkpoints. In 1962, TWA opened Trans World Flight Center , now Terminal 5 (or simply T5), at New York City's JFK Airport and designed by Eero Saarinen . The terminal

3520-575: The airline carried more than 50 percent of all transatlantic passengers. Every day, Boeing 747, Lockheed L-1011 , and Boeing 767 aircraft departed to more than 30 cities in Europe, fed by a small but effective domestic operation focused on moving U.S. passengers to New York or other gateway cities for wide-body service across the Atlantic, while a similar inter-European operation shuttled non-U.S. passengers to TWA's European gateways—London, Paris (which

3600-411: The airline suffered after the 1931 Transcontinental & Western Air Fokker F-10 crash near Matfield Green, Kansas . The crash killed all eight on board, including University of Notre Dame football coach Knute Rockne . The cause of the crash was linked to the wooden wings, one of which failed in flight. As a consequence, all of the airline's Fokker F.10s were grounded and later scrapped. TWA needed

3680-406: The airline, as the major stockholder, through the financial terms associated with the jet purchase. As a consequence of that deal, Charles C. Tillinghast Jr. took over as president. The battle over Hughes' control continued in court until 1966 when Hughes was forced to sell his stock. That sale brought Hughes $ 546,549,771. Under a plan put together by Dillon, Read & Co. , a $ 165 million loan

3760-544: The base. In 2008, American moved about 500 of its remaining 1,000 employees to Tulsa, Oklahoma and American formally cut the ties in September 2010. Barack Obama visited the Smith Electric part of the plant to tout the $ 32 million in stimulus funding granted to Smith to locate to the structure. Kansas City says that 1 million feet (300,000 m) have been leased. In 2009, Kansas City broke ground on

3840-605: The bid was dropped in January 1987. In 1991, he sold his stake in the company for $ 1 billion, making a $ 200 million profit. In June 1989, in the largest share sale to date on the New York Stock Exchange , Icahn sold his stake in Texaco for $ 2 billion, making a profit of $ 700 million. In 1990, he offered to acquire Pan Am for $ 375 million. In 1994, he took a 6.6% interest in Western Company of North America as it

3920-542: The capacity to carry 12 passengers and a range of 1,080 miles. On September 20, 1932, the development contract was signed with Douglas Aircraft Company and the Douglas DC-1 was delivered to TWA in December 1933, the sole example of its type. On February 18, 1934, Frye (pilot) and Eastern Air Lines ' head Eddie Rickenbacker (co-pilot), flew the DC-1 from Glendale, California , to Newark, New Jersey , setting

4000-568: The company in a leveraged buyout in 1988. Icahn systematically sold TWA's assets to repay money he owed, which was described as " asset stripping " and made him known as a " corporate raider ". In 1991, he sold TWA's London routes to American Airlines for $ 445 million. Icahn made a $ 469 million profit, and left TWA with $ 540 million in debt. He formed lowestfare.com to sell TWA tickets and acquired portions of Global Leisure Travel from Ramy El-Batrawi. In October 1986, Icahn launched an unsuccessful $ 8 billion hostile takeover for 89% of U.S. Steel ;

4080-470: The company's main offices from Manhattan to office buildings he owned in Mount Kisco . TWA earned a profit of $ 106.2 million in 1987. In September 1988, TWA stockholders approved a plan to take the company private, winning Icahn $ 469 million in personal profit, but adding $ 539.7 million in debt to TWA. TWA's zenith as an international carrier occurred in the summer of 1988, when, for the only time,

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4160-490: The company's management to separate its tobacco and food units. In July 2001, Icahn's Riverdale, LLC lent Genesisintermedia $ 100 million and received options to purchase 5.5 million shares of the company at an average price of $ 5.09. In 2004, Icahn began raising $ 3 billion to form Icahn Partners, a hedge fund . He took ownership stakes in Blockbuster Video and Time Warner . In 2004, after Mylan announced

4240-536: The complex ( Smith Electric Vehicles (US), Jet Midwest and Nordic Windpower ). Frontier Airlines leased two narrow-body hangars. The plant along with the airport opened in 1957 at a cost of $ 25 million and was marked an attempt to keep TWA in Kansas City following the Great Flood of 1951 which had destroyed TWA's facilities at Fairfax Airport close to the Missouri River . TWA's plant had been in

4320-632: The court system in 2008, which charged Icahn with penalties due to his conflict of interest . In August 2006, Icahn bought stock in Take-Two Interactive , a video game publisher, and increased his holdings to 11.3% in 2009, becoming the company's second-largest shareholder. In January 2007, he purchased a 9.2% stake in Telik , a biotech company engaged in cancer research. He also acquired 6.1 million shares of WCI Communities, later acquired by Lennar . In May 2007, Icahn lost an election for

4400-603: The definitive airline facility, training other airlines' staff, as well as its own. The airline continued to expand European operations in the 1960s, 1970s, and 1980s. In 1987, TWA had a transatlantic system reaching from Los Angeles to Bombay , including virtually every major European population center, with 10 American gateways. TWA introduced the Boeing 747 to its fleet in 1970. After the merger with Hilton International in 1967, TWA's holding company , Trans World Corp., continued to diversify, buying Canteen Corp. in 1973, and then

4480-488: The era of "The Airline Run by Flyers". LaMotte Cohu took over as president, and TWA ordered 12 Lockheed L-749 Constellations on October 18, 1947. Cohu was replaced by Ralph Damon in 1948. As president of American Airlines (AAL), Damon was a proponent of AAL being in the transatlantic market. Damon approved the mergers of AAL and American Export in 1945 to form American Overseas Airlines (AOA). When C.R. Smith sold AOA to Pan American, Damon became disillusioned with AAL. As

4560-567: The expansion of the airline to serve Europe, the Middle East, and Asia, making TWA a second unofficial flag carrier of the United States after Pan Am . Hughes gave up control in the 1960s, and the new management of TWA acquired Hilton International and Century 21 in an attempt to diversify the company's business. As the Airline Deregulation Act of 1978 led to a wave of airline failures, start-ups, and takeovers in

4640-405: The expertise of Jack Frye . TWA became known as "The Lindbergh Line", with the "Shortest Route Coast to Coast". On October 25, 1930, the airline offered one of the first all-plane scheduled services from coast to coast. The route took 36 hours, which included an overnight stay in Kansas City. In summer 1931, TWA moved its headquarters from New York to Kansas City, Missouri. On March 31, 1931,

4720-569: The flight attendants during this decade went through three different designers. From 1971–1974, the official TWA uniform was designed by Valentino. From 1974–1978, the official TWA uniform was designed by Stan Herman , and from 1978–2001, the official TWA uniform was designed by Ralph Lauren. Facing the pressures of deregulation , the airline consolidated its route system around a domestic hub in St. Louis, aided by its purchase of Ozark Air Lines in 1986, and an international gateway in New York. It

4800-694: The former North American Aviation B-25 Mitchell bomber plant at Fairfax. TWA labeled the building MCIE (after the airport's original name of Mid-Continent International Airport). The airline also moved its large overhaul operations at the New Castle County Airport in Delaware to Kansas City. In 1973, when the airport opened to replace Kansas City Downtown Airport as the city's main airport, TWA also added its distinctive sloped wide-body hangars. When American Airlines acquired financially bankrupt TWA in 2001, TWA had 2,600 employees at

4880-449: The money would be used to pay back its debts and to buy back its preferred stock for about $ 600 million from Icahn. Icahn would have then owned the wired business outright, and still own his 60% stake in XO. Despite Icahn's majority ownership and the board of directors declaring the deal to be in the best interest of shareholders, R2 and other minority shareholders blocked the transaction through

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4960-411: The most successful hedge fund managers of all time and one of the greatest investors on Wall Street , he was one of the first activist shareholders and is credited with making that investment strategy mainstream for hedge funds . In the 1980s, Icahn developed a reputation as a " corporate raider " after profiting from the hostile takeover and asset stripping of Trans World Airlines . Icahn

5040-560: The operations in preparation for the changeover of the crews that were to follow. Shortly before the DC-9 airplanes began arriving in Germany, however, the entire plan was cancelled because the leasing contracts that Carl Icahn had created for the former Ozark DC-9s specifically forbade any operations outside the continental limits of the United States. Carl Icahn Carl Celian Icahn ( / ˈ aɪ k ɑː n / ; born February 16, 1936)

5120-593: The same passenger and cargo capacity, so it was decided to replace the Boeing fleet. To prepare for this transition, TWA positioned several million dollars worth of spare parts for the DC-9s in Germany. This was a requirement dictated by the German government. If TWA wanted to use DC-9s in the service of the German population, then TWA had to provide readily available spare parts for its fleet. The airline also sent its senior DC-9 pilots (known as Check Airmen) to Europe to observe

5200-571: The suffix "Inc." to its name, thus qualifying it as a different company. It was awarded 60% of its old contracts back in May 1934 and won back the rest within a few years. On January 29, 1937, TWA contracted with Boeing for five Boeing 307 Stratoliners , which included a pressurized cabin. However, the TWA board refused to authorize the expenditure. Frye then approached another flying enthusiast, Howard Hughes , along with Algur H. Meadows and his business partner Henry W. Peters, to buy stock in 1937. Hughes Tool Company purchased 99,293 shares at $ 8.25

5280-561: The total order with Boeing to 33 jet planes. Then on June 7, 1956, Hughes placed an order for 30 Convair 880 Skylarks. TWA suffered from its late entry to the jet age, and Hughes' 1956 order cost $ 497 million. The transaction ultimately resulted in Hughes losing control of the airline. In 1958, TWA became the first major airline to hire an African American flight attendant , hiring Margaret Grant after another African American woman, Dorothy Franklin of Astoria, Queens, New York , filed

5360-418: The urging of Postmaster General Walter Folger Brown , who was looking for bigger airlines to give airmail contracts to. The airline brought high-profile aviation pioneers who would give the airline the panache of being called "The Airman's Airline". TAT had the marquee expertise of Charles Lindbergh and was already offering a 48-hour combination of plane and train trips across the United States. WAE had

5440-430: Was able to remain profitable during this time because of its good route positioning and the relatively low costs of adapting its operations. In 1983, Trans World Corporation spun off the airline. In 1985, TWA's board agreed to sell the airline to Frank Lorenzo 's Texas Air Corporation . Due to Texas Air's ownership of non-union carriers Continental Airlines and New York Air , as well as Lorenzo's reputation of being

5520-522: Was acquired by American Airlines in 2001. It was formed as Transcontinental & Western Air to operate a route from New York City to Los Angeles via St. Louis, Kansas City, and other stops, with Ford Trimotors . With American , United , and Eastern , it was one of the " Big Four " domestic airlines in the United States formed by the Spoils Conference of 1930. Howard Hughes acquired control of TWA in 1939, and after World War II led

5600-401: Was even considered a European hub by TWA), and Frankfurt —for travel to the United States. In 1989, TWA decided to replace its fleet of Boeing 727 Series 100 aircraft with the former Ozark Airlines DC-9s . This decision was based on the economics of operating three-crew airplanes (727s) with three engines, versus operating two-crew airplanes (DC-9s) with two engines. Both airplanes had about

5680-437: Was eventually increased to 53 planes, and they remained operational until 1961. On May 17, 1950, the airline officially changed its name to Trans World Airlines. On December 5, 1950, TWA ordered 10 Lockheed L-1049 Super Constellations , which were delivered in 1952. On October 19, 1953, TWA offered nonstop transcontinental service. TWA's flight operations were based at Kansas City Municipal Airport , while their overhaul base

5760-460: Was expanded in 1969 to accommodate jumbo jets , went dormant in 2001, and underwent renovation and expansion beginning in 2005. A new terminal with a crescent-shaped entry hall and now serving JetBlue opened in 2008—partially encircling the landmark. The headhouse was renovated by Morse Development along with MCR and turned into the TWA Hotel which opened on May 15, 2019. Kansas City approved

5840-697: Was headquartered at one time in Kansas City, Missouri , and planned to make Kansas City International Airport its main domestic and international hub, but abandoned this plan in the 1970s. The airline later developed its largest hub at St. Louis Lambert International Airport . Its main transatlantic hub was the TWA Flight Center at John F. Kennedy International Airport in New York City , an architectural icon designed by Eero Saarinen , and completed in 1962. In January 2001, TWA filed for

5920-472: Was in the process of being acquired by BJ Services . In February 1997, Icahn sold his 7.3% interest in RJR Nabisco for a $ 125 million profit. In June 1997, Icahn took control of Marvel Comics in a rivalry with Ronald Perelman . In March 1998, he again bid for Pan Am , offering $ 43 million. In December 1998, Icahn led an investor group that acquired a 5% stake in RJR Nabisco and pressured

6000-551: Was initiated by the Senior Vice President, of Marketing, Thomas B. McFadden, in collaboration with the Bureau of International Commerce, important U.S. financial institutions, and export expansion entities to offer tools that small and medium-sized U.S. companies could use at low or no cost to expand their exports. Staff management of this program was under the direction of Joseph S. Cooper. A key element of this program

6080-570: Was located at Fairfax Airport . When the Great Flood of 1951 destroyed the facility, the city of Kansas City helped TWA build a new facility on 5000 acres, 18 miles (29 km) north of downtown at what became Kansas City International Airport . On July 10, 1953, TWA ordered 20 Lockheed 1049Es , which was later changed to be 1049Gs. They were put in service on April 1, 1955. On September 25, TWA introduced multiple class services, first and economy. On October 30, they inaugurated their Los Angeles-London route, via New York. On December 23, 1954,

6160-471: Was pressurized at 12,000 feet, enabling it to fly at an altitude of 20,000 feet, above much of the weather. TWA contracted its five Stratoliners to the Army Air Force 's Air Transport Command after Pearl Harbor. Designated as C-75s, they flew 3000 transatlantic flights to Africa and Europe. TWA also contracted to fly its C-54s and Lockheed C-69 Constellations . Hughes and TWA had developed

6240-411: Was raised to fund a 45-jet fleet. The deal was signed on December 30, 1960 by Hughes' lawyer Raymond Holliday, who constituted one member of a three-person voting trust, with the other two members, Ernest R. Breech and Irving S. Olds , represented the financing institutions. On June 30, 1961, TWA filed a federal suit against Hughes, Hughes Tool Co., and Raymond Holliday. Then on April 18, 1962, TWA filed

6320-603: Was regrettable. However, the airline was in a state of desperation for immediate liquidity. TWA was experiencing financial losses on its trans-Pacific route . In a significant milestone, TWA's network expanded globally for the first time in its corporate history. However, this achievement would be short-lived as subsequent events led to its eventual termination. In 1975, Trans World Airlines was headquartered in Turtle Bay , in Midtown Manhattan . The uniforms for

6400-481: Was the MarketAir Newsletter in a number of languages targeted to American exporters and international travellers. In 1964, TWA opened its New York office. TWA was one of the first airlines, after Delta Air Lines , to embrace the spoke-hub distribution paradigm and was one of the first with the Boeing 747 . It planned to use the 747 along with the supersonic transport to fly people between

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