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City plots bid to lure TWA. (St. Louis, Missouri; Trans World Airlines Inc.)
Debt, lease concessions may be key in gaining headquarters
St. Louis' bid for TWA's headquarters likely will be part of a broader package to boost the airline's prospects and to protect future air service should the carrier fail.
In addition to tax and other economic incentives, the city's bid is expected to address Trans World Airlines' $5 million debt to the city and ownership of the airline's gate leases, said a source close to the negotiations. Concessions on the debt and on lease payments at Lambert-St. Louis International Airport are two possible cards the city can play to lure the cash-hungry airline.
St. Louis, TWA's domestic hub, is vying against Kansas City and New York to replace Mount Kisco, N.Y., as TWA's home. A decision is expected within 30 days.
While incentives will be the determining factor in where it relocates, TWA is mum about what specific incentives it …
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Newspaper article from: St Louis Post-Dispatch (MO)
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Newspaper article from: St Louis Post-Dispatch (MO)
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