Trans World Corporation

Trans World Corporation was the original name of the holding company set up to own Trans World Airlines.

In 1967, when the airline sought to diversify into other areas of business, a key investment was Hilton International Hotels, the non-American interests of the Hilton Hotels chain. (Because of this split, the Hilton International chain had to call its hotels in America Vista, while future overseas locations of the American Hilton chain were called Conrad International. This operation was later sold by Trans World Corporation while under the leadership of Charles C. Tillinghast Jr. the CEO of TWA and the first known to receive a golden parachute employment contract.

Trans World Corporation, the owners of the airline company, and TWA's successor Chief executive officer ( L. Edwin Smart), spun off Trans World Airlines and sold it to Carl C. Icahn in 1983, and the holding parent company that owned TWA was then liquidated.

As a result of both companies Trans World Airlines and Trans World Corporation being publicly traded prior to the spinoff, public records permitted analysis which indicates "wealth transfer" of a sale of TWA was as much a reason for the sale of TWA as was a desirability to "restructure union contracts". Conversely, it was circa 1982-1984 when UAL Corporation and AMR Corporation, the parent companies of United Airlines and American Airlines first took shape. This period is also an era marked by extremely competitive airline industry forces fighting for deregulation survival along with fighting for opportunities of vast individual creations of wealth characterized by those accumulated by leading industry figures but sullied names such as Frank Lorenzo and Carl Icahn during the 1980s.

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