All the news about T.W.A. seemed bad last week. The TWA Constellation Star of Cairo cracked up in Eire, killing twelve (see NATIONAL AFFAIRS). And the partnership between thin, erratic Howard Hughes, who controls T.W.A., and roly-poly, even-tempered Jack Frye, who runs it, cracked up. But the second crack-up might prove to be good news for T.W.A.
Frye and Hughes collided head-on over finances. T.W.A., its till drained by overseas expansion and a 25-day pilot strike, needed cash in a hurry, up to $100 million (TIME, Dec. 9). To get part of it, President Frye consequently proposed that T.W.A. issue another...
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