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TWA AND AMERICAN TO ANNOUNCE THE MERGER
NEW YORK, The expected merger was announced yesterday. American is to buy most of TWA assets for $500 million. The deal includes American's purchase of 49 percent stake in DC Air for about $82 million. TWA would also receive $200 million in financing related to its bankruptcy filing and its staff will be employed by American. TWA operates 190 aircrafts.
AVIONEWS - World Aeronautical Press Agency