Late last year, having lost all patience with capricious Industrialist Howard Hughes, a consortium of eleven U.S. banks and insurance companies did its best to put him out of the airline business. In return for a $165 million loan that Trans World Airlines desperately needed to finance its new jet fleet, the consortium obliged Hughes to place his 78% of TWA's stock in a trusteeship. Last week, clearly unfazed by his setback at TWA, wily Howard Hughes, 55, made a dramatic bid for re-entry into commercial aviation. His newest ploy: a request to the Civil Aeronautics Board for permission to...
To continue reading:
or
Log-In
