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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date Of Report (Date of earliest event reported): March 16, 1999
TRANS WORLD AIRLINES, INC.
(Exact name of Registrant as Specified in its Charter)
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DELAWARE 1-7815 43-1145889
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
ONE CITY CENTRE
515 N. SIXTH STREET
ST. LOUIS, MISSOURI 63101
(314) 589-3000
(Address, including zip code, and telephone number, including area code,
of Registrant's principal executive offices)
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ITEM 5. OTHER EVENTS
Trans World Airlines, Inc. (the "registrant") hereby files a copy
of its March 16, 1999 press release with respect to the election of a
new chief executive officer. Such press release is attached as Exhibit
99.1 and forms a part of this current report.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
TRANS WORLD AIRLINES, INC.
Date: March 22, 1999 By: /s/ Kathleen A. Soled
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Title: Senior Vice President
and General Counsel
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EXHIBITS
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99.1 Press Release regarding election of a new Chief Executive Officer.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE CONTACT Jim Brown
March 16, 1999 (314) 589-3214
TWA ANNOUNCES EXECUTIVE SUCCESSION
- BILL COMPTON WILL BECOME CEO;
GERRY GITNER WILL BECOME CHAIRMAN OF EXECUTIVE COMMITTEE -
ST. LOUIS, MO (March 16, 1999) - Gerald L. Gitner, chairman of the
board and chief executive officer of Trans World Airlines, Inc. (AMEX:
TWA) today announced that effective at the Annual Meeting of
Shareholders on May 25, 1999, William F. Compton, currently president
and chief operating officer, will become chief executive officer,
retaining the title of president. Gitner, currently chairman of the
board of directors and chief executive officer, will continue as
chairman of the board and will assume the additional role of chairman of
the board's executive committee.
In addition to his ongoing duties as chairman, Gitner, 53, will
focus on leading TWA's strategic planning initiatives, including
alliance development, aircraft acquisition and financings. Compton, 51,
will assume executive responsibility for staff functions formerly
reporting to Gitner.
"In the more than two years since Bill Compton and I agreed to
assume leadership of this company we have formed a close and effective
working relationship, and we have made significant progress. TWA's
fleet renewal program is now a reality; our airline operation now is one
of the best - frequently the best - in terms of operational
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reliability and on-time performance. We have made major strides toward
strengthening our balance sheet, positioning TWA in the marketplace and
improving our unit revenue," Gitner said.
(MORE)
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TWA Executive - first add
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"As a result of this progress, I feel it is now the right time
for me to take on a somewhat different role that will allow me to focus
exclusively on areas where I think I can contribute the most to TWA's
future success. Specifically, this means devoting more time to global
policy issues impacting TWA at this crucial time in the industry's
history," Gitner said.
In accepting his new position, Compton saluted the leadership
Gitner has provided to TWA as a board member since 1993 and as chairman
and CEO.
"I look forward to continuing our close working relationship to
keep TWA moving forward. Gerry Gitner's guidance of our board and our
company on crucial finance and strategic policy issues will continue to
be indispensable," Compton said.
In addition to serving as president and COO, Compton is an active
MD80 captain for TWA. He first joined the company as a pilot in 1968.
Gitner also first joined TWA in 1968, leaving the company as vice
president of scheduling in the early 1970s for a career that included
senior management positions at several major airlines.
Compton and Gitner both joined the TWA board in 1993. Gitner was
elected chairman and CEO in February, 1997. Compton was elected
executive vice president-operations in March, 1997, and was elected
president and COO in December, 1997.
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NOTE TO EDITORS: BIOGRAPHIES OF GERRY GITNER AND BILL COMPTON ARE
ATTACHED.
