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. Last Updated: 07/27/2016

TWA Survival in Doubt

ST. LOUIS, Missouri (x) -- Trans World Airlines Inc. is telling investors that its auditors have "substantial doubt'' about the carrier's ability to survive.

Tuesday's disclosure is another sign of the St. Louis-based airline's financial woes. In recent years, it has been to bankruptcy court twice. Just last week, TWA announced a loss of $284.6 million for 1996.

KPMG Peat Marwick, the accounting firm, expressed concern about TWA's future in its portion of the company's annual report to securities regulators.