TWA entered bankruptcy in 1992 and was later acquired by American Airlines in 2001.
Trans World Airlines, known as TWA, filed for Chapter 11 bankruptcy protection in January 1992. The airline had suffered from debt, competition, deregulation, high costs, and the financial difficulties associated with its ownership structure.
TWA emerged from bankruptcy in 1993, but later financial problems led to another Chapter 11 filing in 1995. In 2001, American Airlines acquired TWA’s assets, and the TWA brand disappeared from regular airline operations soon afterward.
TWA is commonly confused with Pan Am because both were famous U.S. international carriers that collapsed around the same period. Pan Am ceased flying in 1991, while TWA continued for another decade and was ultimately absorbed by American Airlines.