1995 bankruptcy Trans World Airlines

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at heyday, twa operated fleet of 747-100 aircraft. particular aircraft later exploded in midair twa flight 800.


by agreement dated august 14, 1995, lowestfare.com llc, wholly owned operating subsidiary of karabu, joined party ticket program agreement. pursuant ticket program agreement, lowestfare.com purchase unlimited number of system tickets. system tickets tickets applicable classes of service purchased karabu twa @ 45% discount twa s published fare. in addition system tickets, lowestfare.com purchase domestic consolidator tickets, tickets issued @ bulk fare rates , limited specified origin/destination city markets , did not permit holder modify or refund purchased ticket. karabu s purchase of domestic consolidator tickets subject cap of $70 million per year based on full retail price of tickets.


on twa flights, karabu buy @ heavy discount , sell portion of twa s available seats. result, twa hamstrung high proportion of heavily discounted seats had been sold , left no control on own pricing. not afford discount of own seats, , if twa wanted increase revenue on busy routes putting larger plane service, karabu claim more seats. twa losing estimated $150 million year in revenue due deal.


to ameliorate karabu deal, twa went in , out of bankruptcy in 1995.








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