EX-99 2 dex99.txt MONTHLY OPERATING REPORT FOR 03/01 EXHIBIT 99.1 UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE
In re: Trans World Airlines, Inc., et al. Case No. 01-00056 to 01-00082 (PJW) Reporting Period: March 1, 2001 through March 31, 2001 MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 20 days after end of month Submit copy of report to any official committee appointed in the case. Document Explanation REQUIRED DOCUMENTS Form No. Attached Attached Schedule of Cash Receipts and Disbursements MOR-1 Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1 (CONT) See attached Statement 1 Copies of bank statements Available upon request Cash disbursements journals Available upon request Statement of Operations MOR-2 X Balance Sheet MOR-3 X Status of Postpetition Taxes MOR-4 See attached Statement 2 Copies of IRS Form 6123 or payment receipt Available upon request Copies of tax returns filed during reporting period Available upon request Summary of Unpaid Postpetition Debts MOR-4 See attached Statement 3 Listing of aged accounts payable See attached Statement 3 Accounts Receivable Reconciliation and Aging MOR-5 X Debtor Questionnaire MOR-5 X I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief. _______________________________________ ________________________ Signature of Debtor Date _______________________________________ ________________________ Signature of Joint Debtor Date /s/ Michael J. Lichty --------------------------------------- ------------------------ Signature of Authorized Individual* Date Michael J. Lichty Vice President and Deputy General Counsel ----------------------------------------------- ----------------------------------------- Printed Name of Authorized Individual Title of Authorized Individual
*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. DEBTOR: TransWorld Airlines, Inc., et al. SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS FORM MOR-1 REPORTING PERIOD: March 31, 2001 CASE NO.: 01-00056 (PJW) through 01-00082 (PJW)
Northwest The TWA Trans World Transcontinental Trans World 112th Street Ambassador Computer & Western Airlines, Inc. Corporation Club, Inc. Services, Inc. Air, Inc. -------------- ------------ ----------- ---------------- ---------------- CASE NO. 01-00056 (PJW) 01-00060 (PJW) 01-00061 (PJW) 01-00062 (PJW) 01-00063 (PJW) Cash and cash equivalents, February 28, 2001 $ 53,738,818 $ 18,114 $ 100 $ 1 $ 1,000 Total Receipts 385,198,879 2,500 -- -- -- Total Disbursements (482,653,744) -- -- -- -- Loans and Advances 100,700,000 -- -- -- -- Professional Fees (1,025,322) -- -- -- -- -------------- ------------- ------------- ------------- ------------- Cash and cash equivalents, March 31, 2001 $ 55,958,631 $ 20,614 $ 100 $ 1 $ 1,000 ============== ============= ============= ============= ============= TWA-LAX TWA Gate Company, Group, Inc. Inc. -------------- ------------- CASE NO. 01-00065 (PJW) 01-00069 (PJW) Cash and cash equivalents, February 28, 2001 $ 102,482 $ 100 Total Receipts -- -- Total Disbursements -- -- Loans and Advances -- -- Professional Fees -- -- -------------- ------------- Cash and cash equivalents, March 31, 2001 $ 102,482 $ 100 ============== =============
Note: See attached Statement 4 regarding subsidiaries not listed. DEBTOR: Trans World Airlines, Inc., et al. SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS FORM MOR-1 REPORTING PERIOD: March 31, 2001 CASE NO.: 01-00056 (PJW) through 01-00082 (PJW)
TWA TWA-Omnibus San Francisco Gate Company, Gate Company, TWA TWA Employee Inc. Inc. Nippon, Inc. Services, Inc. -------------- -------------- -------------- -------------- CASE NO. 01-00072 (PJW) 01-00073 (PJW) 01-00076 (PJW) 01-00077 (PJW) Cash and cash equivalents, February 28, 2001 $ 100 $ 100 $ 500 $ 100 Total Receipts -- -- -- -- Total Disbursements -- -- -- -- Loans and Advances -- -- -- -- Professional Fees -- -- -- -- -------------- ------------- ------------- ------------ Cash and cash equivalents, March 31, 2001 $ 100 $ 100 $ 500 $ 100 ============== ============= ============= ============ International The Getaway Aviation Group (U.K.), Security, Inc. Inc. -------------- -------------- CASE NO. 01-00080 (PJW) 01-00082 (PJW) Cash and cash equivalents, February 28, 2001 $ 181,599 $ 4,590,628 Total Receipts 29,681 1,279,836 Total Disbursements (83,697) (871,148) Loans and Advances -- -- Professional Fees -- -- ------------- ------------- Cash and cash equivalents, March 31, 2001 $ 127,583 $ 4,999,316 ============= =============
Note: See attached Statement 4 regarding subsidiaries not listed. DEBTOR: Trans World Airlines, Inc., el al. FORM MOR-2 CASE NO.: 01-00056 (PJW through 01-00082 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: March 31, 2001 Note: See attached Statement 4 regarding subsidiaries not listed. DEBTOR: Trans World Airlines, Inc. FORM MOR-2 CASE NO.: 01-00056 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: March 31, 2001
Current Month Year-to-date -------------- -------------- Operating Revenues: Passenger $ 258,240,189 $ 698,320,709 Freight and mail 6,757,958 20,724,516 All other revenues 27,657,204 66,312,279 -------------- -------------- Total 292,655,351 785,357,504 -------------- -------------- Operating Expenses: Salaries, wages and benefits 106,510,241 323,848,302 Aircraft fuel and oil 46,982,855 140,896,311 Passenger sales commissions 9,460,846 26,075,296 Aircraft maintenance materials and repairs 7,827,154 20,967,308 Depreciation and amortization 10,125,148 31,291,416 Operating lease rentals 57,362,985 173,024,072 Passenger food and beverages 6,919,852 18,793,283 All other expenses 60,929,918 175,172,893 -------------- -------------- Total 306,118,998 910,068,882 -------------- -------------- Operating Income (Loss) (13,463,647) (124,711,377) -------------- -------------- Other Charges (Credits): Interest expense 15,945,255 32,744,369 Interest and investment income (602,595) (1,806,760) Disposition of assets, gains and losses - net 4,157,318 4,218,507 Finance charge income (447,926) (1,230,641) Other charges and credits - net 2,042,914 (1,955,835) -------------- -------------- Total 21,094,966 31,969,640 -------------- -------------- Income (loss) before income taxes (34,558,613) (156,681,017) Provision (credit) for income taxes 12,546 20,728 -------------- -------------- Net income (loss) $ (34,571,159) $ (156,701,745) ============== ==============
Note: The Trans World Airlines, Inc. ("TWA") accounting system did not allow for the segregation of operations for the period from December 31, 2000 to the filing of the Chapter 11 bankruptcy petition (January 10, 2001). Accordingly, TWA was not able to allocate income and expenses between pre- and post-petition periods for the month of January, 2001. The year to date income statements for the period ending March 31, 2001 represent activity from January 1, 2001 through March 31, 2001. DEBTOR: Northwest 112th Street Corporation FORM MOR-2 CASE NO.: 01-00060 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: March 31, 2001 Current Month Year-to-date ------------- ------------ Income/Gain Items Rental Income $ 2,500 $ 7,500 ------------- ------------ Total Income Items 2,500 7,500 Expense/Loss Items Amortization of Gates -- -- ------------- ------------ Total Expense Items -- -- ------------- ------------ Net Income/(Loss) $ 2,500 $ 7,500 ============= ============ Note: The Trans World Airlines, Inc. ("TWA") accounting system did not allow for the segregation of operations for the period from December 31, 2000 to the filing of the Chapter 11 bankruptcy petition (January 10, 2001). Accordingly, TWA was not able to allocate income and expenses between pre- and post-petition periods for the month of January, 2001. The year to date income statements for the period ending March 31, 2001 represent activity from January 1, 2001 through March 31, 2001. DEBTOR: TWA - LAX Gate Company, Inc. CASE NO.: 01-00069 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: March 31, 2001
Current Month Year-to-date --------------- -------------- Income/Gain Items Revenue $ -- $ -- --------------- -------------- Total Income Items -- -- Expense/Loss Items Amortization of Gates 125,000 375,000 --------------- -------------- Total Expense Items 125,000 375,000 --------------- -------------- Net Income/(Loss) $ (125,000) $ (375,000) =============== ==============
Note: The Trans World Airlines, Inc. ("TWA") accounting system did not allow for the segregation of operations for the period from December 31, 2000 to the filing of the Chapter 11 bankruptcy petition (January 10, 2001). Accordingly, TWA was not able to allocate income and expenses between pre- and post-petition periods for the month of January, 2001. The year to date income statements for the period ending March 31, 2001 represent activity from January 1, 2001 through March 31, 2001. DEBTOR: TWA - Omnibus Gate Company, Inc. CASE NO.: 01-00072(PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: March 31, 2001
Current Month Year-to-date --------------- -------------- Income/Gain Items Revenue $ -- $ -- --------------- -------------- Total Income Items -- -- Expense/Loss Items Amortization of Gates 86,667 260,000 --------------- -------------- Total Expense Items 86,667 260,000 --------------- -------------- Net Income/(Loss) $ (86,667) $ (260,000) =============== ==============
Note: The Trans World Airlines, Inc. ("TWA") accounting system did not allow for the segregation of operations for the period from December 31, 2000 to the filing of the Chapter 11 bankruptcy petition (January 10, 2001). Accordingly, TWA was not able to allocate income and expenses between pre- and post-petition periods for the month of January, 2001. The year to date income statements for the period ending March 31, 2001 represent activity from January 1, 2001 through March 31, 2001. DEBTOR: TWA - San Francisco Gate Company, Inc. CASE NO.: 01-00073 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: March 31, 2001
Current Month Year-to-date --------------- -------------- Income/Gain Items Revenue $ -- $ -- --------------- -------------- Total Income Items -- -- Expense/Loss Items Amortization of Gates 116,667 350,000 --------------- -------------- Total Expense Items 116,667 350,000 --------------- -------------- Net Income/(Loss) $ (116,667) $ (350,000) =============== ==============
Note: The Trans World Airlines, Inc. ("TWA") accounting system did not allow for the segregation of operations for the period from December 31, 2000 to the filing of the Chapter 11 bankruptcy petition (January 10, 2001). Accordingly, TWA was not able to allocate income and expenses between pre- and post-petition periods for the month of January, 2001. The year to date income statements for the period ending March 31, 2001 represent activity from January 1, 2001 through March 31, 2001. DEBTOR: TWA - Getaway Group (U.K.), Inc. CASE NO.: 01-00082 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: March 31, 2001
Current Month Year-to-date --------------- -------------- Operating Revenue $ 1,308,427 $ 2,614,876 Operating Expenses: Salaries, wages and benefits 76,222 248,820 Sales commissions 1,348 3,481 Depreciation and amortization 10,635 61,271 Operating lease rentals 12,681 38,356 All other expenses 1,339,954 2,444,540 --------------- -------------- Total 1,440,841 2,796,469 Operating Income (Loss) (132,413) (181,592) Other Charges (Credits) Interest expense - net of investment income (18,237) (53,689) Foreign currency translation 174,394 283,178 --------------- -------------- Total 156,157 229,489 Income (loss) before income taxes (288,571) (411,081) Provision (credit) for income taxes -- (8,220) --------------- -------------- Net income (loss) $ (288,571) $ (402,861) =============== ==============
Note: The Trans World Airlines, Inc. ("TWA") accounting system did not allow for the segregation of operations for the period from December 31, 2000 to the filing of the Chapter 11 bankruptcy petition (January 10, 2001). Accordingly, TWA was not able to allocate income and expenses between pre- and post-petition periods for the month of January, 2001. The year to date income statements for the period ending March 31, 2001 represent activity from January 1, 2001 through March 31, 2001. DEBTOR: Trans World Airlines, Inc., el al. CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) BALANCE SHEET REPORTING PERIOD: March 21, 2001 Note: See attached Statement 4 regarding subsidiaries not listed. FORM MOR-3 OFFICE OF THE U.S TRUSTEE BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: Trans World Airlines, Inc. CASE NO.: 01-00056 (PJW)
March 31, 2001 ----------------- Current Assets: Cash and cash equivalents $ 55,958,631 ----------------- Receivables: U.S. Government 3,664,717 General traffic 178,986,165 Other 18,054,773 ----------------- Total 200,705,655 Less allowance for doubtful accounts (7,701,798) ----------------- Total receivables - net 193,003,858 Receivables from subsidiaries & affiliated companies 71,283,489 Spare parts, materials and supplies, less allowance for obsolescence 87,105,386 Prepaid expenses 72,173,257 Other current assets 147,496,791 ----------------- Total 627,021,412 ----------------- Property: Property owned, at cost: Flight equipment 430,119,231 Prepayments on flight equipment 67,156,288 Land, buildings and improvements 79,895,124 Other property and equipment 93,284,422 ----------------- Total property owned 670,455,065 Less accumulated depreciation (187,696,889) ----------------- Property owned - net 482,758,176 ----------------- Property held under capital leases, at capitalized value: Flight equipment 176,094,420 Land, buildings and improvements 39,900,465 Other property and equipment 8,887,931 ----------------- Total property held under capital 224,882,815 Less accumulated amortization (148,037,321) ----------------- Property held under capital lease - net 76,845,495 ----------------- Total property - net 559,603,671 ----------------- Investments and other assets: Other investments and receivables 30,328,261 Investments in affiliated companies 72,755,736 Advances to subsidiaries (9,062,451) Unamortized debt expense 8,521,683 Long-term prepayments 60,170,641 Other deferred costs 7,203,574 Routes, gates and slots - net 145,321,515 Goodwill 604,825,368 Other 3,175,401 ----------------- Total 923,239,726 ----------------- Total $ 2,109,864,808 ================= March 31, 2001 ----------------- Liabilities not subject to compromise Current Current maturities of long-term debt - DIP $ (312,000,000) Accrued interest - DIP (102,575) Advance ticket sales (270,613,827) Accounts payable (132,300,149) Employee compensation and vacations earned (130,226,369) Contributions to retirement and pension trusts (35,049,347) Taxes (9,951,855) Postretirement benefits other than pensions (39,500,000) ----------------- Total current (929,744,123) ----------------- Long Term Postretirement benefits other than pensions (515,195,426) ----------------- Total not subject to compromise (1,444,939,549) ----------------- Liabilities subject to compromise Secured: Secured debt (568,971,621) Capital leases - aircraft (85,013,037) Capital leases - other (32,797,327) Accrued interest - long term debt (19,979,468) Accrued interest - aircraft leases (777,435) Accrued interest - other leases (207,607) ----------------- Total secured (707,746,495) ----------------- Priority: Transportation taxes (111,824,355) Property taxes (6,469,349) ----------------- Total priority (118,293,704) ----------------- Unsecured: Accounts payable (131,876,432) Other accrued expenses (153,509,189) Other liabilities and deferred credits (136,705,649) Intercompany payables (1,313,788) Accounts payable to affiliated companies (4,541,850) ----------------- Total unsecured (427,946,908) ----------------- Total subject to compromise (1,253,987,107) ----------------- Total liabilities (2,698,926,655.41) ----------------- Shareholders' equity: 8% cumulative convertible exchangeable preferred stock (4,655) $50 liquidation preference 9 1/4% cumulative convertible exchangeable preferred stock, $50 liquidation preference (3,689) Employee preferred stock, $0.01 liquidation preference (60,584) Common stock, $0.01 par value (788,516) Additional paid-in capital (733,169,304) Accumulated deficit 1,323,088,595 ----------------- Total 589,061,847 ----------------- Total $ (2,109,864,808) =================
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. 12 FORM MOR-3 OFFICE OF THE U.S. TRUSTEE BALANCE SHEET REPORTING PERIOD: MARCH 31, 2001 DEBTOR: Northwest 112th Street Corporation CASE NO.: 01-00060 (PJW)
March 31, 2001 March 31, 2001 ----------------- ----------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 20,614 Priority: ----------------- Income tax payable $ (79,533) Total 20,614 Accrued taxes (4,450) ----------------- ----------------- Total priority (83,983) ----------------- Investments and other assets: Unsecured: Land 451,440 ----------------- Miscellaneous services payables (165,000) Total 451,440 ----------------- ----------------- Total unsecured (165,000) ----------------- Total liabilities (248,983) Total $ 472,054 ================= Shareholders' equity: Capital stock (500) Additional paid-in capital (451,440) Accumulated deficit 236,369 Net income (7,500) ----------------- Total (223,071) ----------------- Total $ (472,054) =================
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. 13 OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: The TWA Ambassador Club, Inc. CASE NO.: 01-00061 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 100 Unsecured: -------------- Total 100 Advances from TWA $ - -------------- -------------- Total - -------------- Investments and other assets: Advances to TWA - Shareholders' equity: -------------- Total - Common stock (100) -------------- -------------- Total (100) -------------- Total $ 100 Total $ (100) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: Trans World Computer Services, Inc. CASE NO.: 01-00061 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 1 Unsecured: -------------- Total 1 Accounts payable $ - -------------- -------------- Total - -------------- Investments and other assets: Advances to TWA - Shareholders' equity: -------------- Total - Capital stock (1) -------------- -------------- Total (1) -------------- Total $ 1 Total $ (1) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. DEBTOR: Transcontinental & Western Air, Inc. FROM MOR-3 CASE NO.: 01-00063 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 1,000 Unsecured: -------------- Total 1,000 Accounts payable $ - -------------- -------------- Total - -------------- Shareholders' equity: Capital stock (1,000) -------------- Total (1,000) -------------- Total $ 1,000 Total $ (1,000) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: TWA Group, Inc. CASE NO.: 01-00065 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 102,482 Unsecured: -------------- Total 102,482 Advances from TWA $ (219,274) -------------- ------------- Investments and other assets: Shareholders' equity: Investment in Getaway Management Services 478,934 Capital stock (2,400) Investment in Trans World Express, Inc. (54,574) Additional paid-in capital (84,256,347) Investment in TWA Employee Services, Inc. 100 Accumulated deficit 120,479,507 ------------- Investment in The Getaway Group, Inc. 2,666,626 Total 36,220,759 ------------- Investment in Getaway Vacations (48,012,250) Investment in International Aviation Security, Inc. (644,868) Investment in TWA Nippon, Inc. 9,362,065 Advances to The Getaway Group, Inc. 100,000 -------------- Total (36,103,967) -------------- Total $ (36,001,485) Total $ 36,001,485 ============== =============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: TWA - LAX Gate Company, Inc. CASE NO.: 01-00069 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 100 Unsecured: -------------- Total 100 Advances from TWA $ - -------------- -------------- Total - -------------- Investments and other assets: Gate Value 6,625,000 Shareholders' equity: -------------- Total 6,625,000 Capital stock (100) -------------- Additional paid-in capital (12,625,000 Retained Earnings 5,625,000 Accumulated deficit 375,000 -------------- Total (6,625,100) -------------- Total $ 6,625,100 Total $ (6,625,100) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: TWA - Omnibus Gate Company, Inc. CASE NO.: 01-00072 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 100 Unsecured: -------------- Total 100 Accounts payable $ - -------------- -------------- Total - -------------- Investments and other assets: Gate value 4,593,333 Shareholders' equity: -------------- Total 4,593,333 Capital stock (100) -------------- Additional paid-in capital (8,753,333) Retained Earnings 3,900,000 Accumulated deficit 260,000 -------------- Total (4,593,433) -------------- Total $ 4,593,433 Total $ (4,593,433) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: TWA - San Francisco Gate Company, Inc. CASE NO.: 01-00073 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 100 Unsecured: -------------- Total 100 Accounts payable $ - -------------- -------------- Total - -------------- Investments and other assets: Gate value 6,183,333 Shareholders' equity: -------------- Total 6,183,333 Capital stock (100) -------------- Additional paid-in capital (11,783,333) Retained Earnings 5,250,000 Accumulated deficit 350,000 -------------- Total (6,183,433) -------------- Total $ 6,183,433 Total $ (6,183,433) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: TWA Nippon, Inc. CASE NO.: 01-00076 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 500 Unsecured: Receivable from NCA 15,899 Advances from TWA $ (121,372) -------------- Total 16,399 Payable to TWA (14,751) -------------- -------------- Total (136,124) -------------- Investments and other assets: Advances to TWA 9,481,790 Shareholders' equity: -------------- Total 9,481,790 Capital stock (100) -------------- Additional paid-in capital - Accumulated deficit (9,361,965) -------------- Total (9,362,065) -------------- Total $ 9,498,189 Total $ (9,498,189) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: TWA Employee Services, Inc. CASE NO.: 01-00077 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 100 Unsecured: -------------- Total 100 Accounts payable $ - -------------- -------------- Total - -------------- Investments and other assets: Advances to TWA - Shareholders' equity: -------------- Total - Capital stock (100) -------------- -------------- Total (100) -------------- Total $ 100 Total $ (100) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: TWA Getaway Vacations, Inc. CASE NO.: 01-00078 (PJW)
March 31, 2001 March 31, 2001 ---------------- ---------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ - Unsecured: ---------------- Accounts payable $ (757,225) Total - Accounts payable to TWA (47,466,362) ---------------- ---------------- Total (48,223,586) ---------------- Investments and other assets: Special deposits longterm 211,316 ---------------- Total 211,316 Shareholders' equity: ---------------- Add'l Paid (890,415) Retained Earnings 48,902,684 ---------------- Total 48,012,270 ---------------- Total $ 211,316 Total $ (211,316) ================ ================
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: Trans World Express, Inc. CASE NO.: 01-00079 (PJW)
March 31, 2001 March 31, 2001 ---------------- ---------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ - Unsecured: ---------------- Accrued expenses $ (54,575) Total - ---------------- ---------------- Total (54,575) ---------------- Investments and other assets: - ---------------- Total - Shareholders' equity: ---------------- Common stock (100) Additional paid-in capital (133,427,006) Accumulated deficit 133,481,681 ---------------- Total 54,575 ---------------- Total $ - Total $ - ================ ================
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: International Aviation Security, Inc. CASE NO.: 01-00080 (PJW)
March 31, 2001 March 31, 2001 ---------------- ---------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 127,583 Priority: General traffic OAL's 5,607 Income taxes $ (29,483) Other 18,597 Taxes other than income (39,020) Receivables from TWA - ---------------- Prepaid expenses 40,681 Total priority (68,503) ---------------- ---------------- Total 192,469 Unsecured: ---------------- Accounts payable (433,236) Advances from TWA (399,889) ---------------- Property Total unsecured (833,125) Security equipment 54,984 ---------------- Furniture, fixtures and office 2,126 Other property and equipment 21,919 Total liabilities (901,628) (less: Accumulated Depreciation) (75,650) ---------------- ---------------- Total 3,379 ---------------- Shareholders' equity: Investments and other assets: Capital stock (100) Investment in affiliates 105,156 Common stock (105,156) Other investments 60,912 Retained earnings (1,822,875) Other assets - Accumulated deficit 2,467,843 ---------------- ---------------- Total 166,067 ---------------- Total 539,713 ---------------- Total $ 361,915 Total $ (361,915) ================ ================
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: Getaway Management Services, Inc. CASE NO.: 01-00081 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ - Priority: Other Receivables 482,181 Taxes other than income $ (10) -------------- Prepaid expenses (677) Total priority (10) -------------- Other Current Assets 139,514 -------------- Total 621,018 Unsecured: -------------- Accounts payable (34,685) Intercompany Accounts Payable (117,867) -------------- Total unsecured (152,552) -------------- Investments and other assets: Other Deferred Costs 10,477 Total liabilities (152,562) -------------- -------------- Total 10,477 -------------- Shareholders' equity: Retained earnings (478,934) -------------- Total (478,934) -------------- Total $ 631,496 Total $ (631,496) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: March 31, 2001 DEBTOR: The Getaway Group U.K., Inc. CASE NO.: 01-00082 (PJW)
March 31, 2001 March 31, 2001 -------------- -------------- Current Assets: Liabilities subject to compromise: Cash and cash equivalents $ 4,999,315 Priority: General Traffic Receivables 86,543 Taxes other than income $ (36,105) -------------- Other Receivables 189,687 Total priority (36,105) -------------- Intercompany Receivables 764,678 Prepaid expenses 152,812 Unsecured: Other Current Assets (132,332) Accounts payable (3,865,626) -------------- Total 6,060,704 Intercompany Accounts Payable (43,170) -------------- -------------- Total unsecured (3,908,796) -------------- Property Land, Buildings and Improvements (868) Total liabilities (3,944,901) -------------- Other property and equipment 790,325 (less: Accumulated Depreciation) (495,933) Shareholders' equity: -------------- Total 293,524 Common stock (100,000) -------------- Retained earnings (2,666,526) Investments and other assets: Accumulated deficit 402,861 -------------- Other assets (45,663) Total (2,363,664) -------------- -------------- Total (45,663) -------------- Total $ 6,308,565 Total $ (6,308,565) ============== ==============
Note: Although liabilities are segregated and identified in order of anticipated priority, no assertions are being made as to the value of collateral, estimated allowed amounts, priority of payments, etc. FROM MOR-3
DEBTOR: Trans World Airlines, Inc., et al. CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) Reporting Period: March 1, 2001 through March 31, 2001 ACCOUNTS RECEIVABLE AGING $(000's) Receivables Total Current 31-60 61-90 Over 90 ---------- ---------- --------- -------- --------- Air Travel Plan $ 34,062 $ 23,214 $ 6,877 $ 2,168 $ 1,803 Getaway 8,306 7,592 266 108 340 Outside Credit Cards 42,463 42,463 Non Transportation Services 28,945 4,441 8,443 6,086 9,975 Cargo 9,546 7,485 1,061 448 552 Overseas Accounts 13,508 6,367 549 322 6,270 Travel Agents System 47,607 47,607 TWA Lift Due from OAL's 22,329 22,329 All Other (6,060) (6,060) --------- --------- -------- ------- -------- Total $ 200,706 $ 155,438 $ 17,196 $ 9,132 $ 18,940 ========= ========= ======== ======= ========
DEBTOR QUESTIONNAIRE Must be completed each month Yes No 1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. X 2. Have any funds been disbursed from any account other than debtor in possession account this reporting period? If yes, provide an explanation below. X 3. Have all postpetition tax returns been timely filed? If no, provide an explanation below. X 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. X ========
Statement 1 UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: Trans World Airlines, Inc., et al. CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) Reporting Period: March 1, 2001 through March 31, 2001
Trans World Airlines, Inc., et al. prepares bank reconciliations on a regular basis as a part of the normal course of business. Statement 2 UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: Trans World Airlines, Inc., et al. CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) Reporting Period: March 1, 2001 through March 31, 2001
Trans World Airlines, Inc., et al. pays its post petition taxes as they become due as a part of the normal course of business. Statement 3 UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: Trans World Airlines, Inc., et al. CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) Reporting Period: March 1, 2001 through March 31, 2001
Material post-petition accounts payable of Trans World Airlines, Inc., et al. are being paid as they become due in the normal course of the debtors' business. As of March 31, 2001, the post-petition vendor accounts payable is a net prepaid amount. Detail of the net prepaid vendor balance is available upon request. In addition to vendor payables, accounts payable includes various payroll related payables, Federal excise taxes payable, passenger facility charges, other airline net liabilities, and other miscellaneous accruals and payables. Statement 4 UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: Trans World Airlines, Inc., et al. CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) Reporting Period: March 1, 2001 through March 31, 2001
The following debtor entities have no ongoing business activities. Therefore they have no income, expenses or cash receipts and disbursements, and may have no assets or liabilities.
No Cash No Income No Balance Transactions Statement Sheet Case Number ---------------------------------------------------------------------------------------------------- Ambassador Fuel Corporation X X X 01-00057 (PJW) ---------------------------------------------------------------------------------------------------- LAX Holding Company, Inc. X X X 01-00058 (PJW) ---------------------------------------------------------------------------------------------------- Mega Advertising, Inc. X X X 01-00059 (PJW) ---------------------------------------------------------------------------------------------------- The TWA Ambassador Club, Inc. X 01-00061 (PJW) ---------------------------------------------------------------------------------------------------- Trans World Computer Services, Inc. X 01-00062 (PJW) ---------------------------------------------------------------------------------------------------- Transcontinental & Western Air, Inc. X 01-00063 (PJW) ---------------------------------------------------------------------------------------------------- TWA Aviation, Inc. X X X 01-00064 (PJW) ---------------------------------------------------------------------------------------------------- TWA Group, Inc. X 01-00065 (PJW) ---------------------------------------------------------------------------------------------------- TWA Standards & Control, Inc. X X X 01-00066 (PJW) ---------------------------------------------------------------------------------------------------- TWA Stock Holding Company X X X 01-00067 (PJW) ---------------------------------------------------------------------------------------------------- TWA-D.C. Gate Company, Inc. X X X 01-00068 (PJW) ---------------------------------------------------------------------------------------------------- TWA Logan Gate Company, Inc. X X X 01-00070 (PJW) ---------------------------------------------------------------------------------------------------- TWA-NY/NJ Gate Company, Inc. X X X 01-00071 (PJW) ---------------------------------------------------------------------------------------------------- TWA-Hanger 12 Holding Company, Inc. X X X 01-00074 (PJW) ---------------------------------------------------------------------------------------------------- Ozark Group, Inc. X X X 01-00075 (PJW) ---------------------------------------------------------------------------------------------------- TWA Nippon, Inc. X 01-00076 (PJW) ---------------------------------------------------------------------------------------------------- TWA Employee Services, Inc. X 01-00077 (PJW) ---------------------------------------------------------------------------------------------------- TWA Getaway Vacations, Inc. X X 01-00078 (PJW) ---------------------------------------------------------------------------------------------------- Trans World Express, Inc. X X 01-00079 (PJW) ---------------------------------------------------------------------------------------------------- International Aviation Security, Inc. X 01-00080 (PJW) ---------------------------------------------------------------------------------------------------- Getaway Management Services, Inc. X X 01-00081 (PJW) ----------------------------------------------------------------------------------------------------
VERIFICATION I declare under penalty of perjury that the information contained in this Monthly Operating Report (including Schedules and Statements) is true and correct to the best of my knowledge, information and belief. Dated: _____________________________________________________________________ Name/Title Michael J. Lichty --------------------------------------------------------------------- Address: One City Centre, 515 North 6th Street --------------------------------------------------------------------- St. Louis, Missouri 63101 --------------------------------------------------------------------- Telephone: 314-589-3227 --------------------------------------------------------------------- DEBTOR IN POSSESSION By: _________________________