Beleaguered Trans World Airlines of New York...

Beleaguered Trans World Airlines of New York has a turnaround situation in the third-quarter of this year, posting a profit compared to a loss in the same period last year. On an operating basis, TWA earned $105 million, an all-time record for the company. TWA said the improvement was due primarily to reduced costs. While passenger and freight revenues were each down more than 18%, salary costs fell 28% and fuel costs dropped 48%.