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On 7/30/2003 10:39:11 AM FrugalFlyer wrote:
To answer your original questions, lets kick that dead horse one more time:
1) NO. I believe TW could not sell their share of Worldspan without Delta and NW approval, which they weren't granting.
2) YES. TWA would go belly up eventually, unless somebody like JAG (remember them?) showed up with a lot of money.
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Correct on both counts.
The other owners of WorldSpan were not interested in selling at the time, and TWA could not sell their share without consent of the other owners. Further, any owner had to be an airline, not another CRS (one of the other CRS made a bid in bankruptcy for TWA's share of WorldSpan).
TWA was out of money and out of options. That's why Compton and Carty talked in early January, 2001.
And nobody else came to the rescue.
B747-437B (Sean Mendis, spokesman for JAG) recently posted that even he admits that TWA could not have flown on September 13, 2001 following the attacks. And even JAG didn't put up the required $50 million deposit to make a formal bid for TWA, IIRC. Instead, they chose to argue at the court hearing that they should be allowed to bid even though they didn't follow the court-approved bidding procedure.