EX-99.2 3 dex992.txt MONTHLY OPERATING REPORT FEBRUARY 2001 EXHIBIT 99.2 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: February 1, 2001 through February 28, 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/ Jane Closterman March 25, 2001 --------------------------------------- ------------------ Signature of Authorized Individual* Date Jane Closterman Vice President and Controller --------------------------------------- ------------------------------- 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: Trans World Airlines, Inc., et al. FORM MOR-1 CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS REPORTING PERIOD: February 28, 2001
Northwest The TWA Trans World Transcontinental TWA-LAX Trans World 112th Street Ambassador Computer & Western TWA Gate Company, Airlines, Inc. Corporation Club, Inc. Services, Inc. Air, Inc. Group, Inc. Inc. -------------- -------------- ------------- -------------- ------------- -------------- ------------- CASE NO. 01-00056 (PJW) 01-00060 (PJW) 01-00061(PJW) 01-00062(PJW) 01-00063(PJW) 01-00065 (PJW) 01-00069(PJW) Cash and cash equivalents, January 31, 2001 $ 49,970,581 $ 15,614 $ 100 $ 1 $ 1,000 $ 102,482 $ 100 Total Receipts 314,387,926 2,500 - - - - - Total Disbursements (324,957,204) - - - - - - Loans and Advances 14,400,000 - - - - - - Professional Fees (62,485) - - - - - - ------------ -------------- ------------- ------------- ------------- -------------- ------------- Cash and cash equivalents, February 28, 2001 $ 53,738,818 $ 18,114 $ 100 $ 1 $ 1,000 $ 102,482 $ 100 ============ ============== ============= ============= ============= ============== =============
Note: See attached Statement 4 regarding subsidiaries not listed. Page 1 of 2 DEBTOR: Trans World Airlines, Inc., et al. FORM MOR-1 CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS REPORTING PERIOD: February 28, 2001
TWA - TWA-Omnibus San Francisco International The Getaway Gate Company, Gate Company, TWA TWA Employee Aviation Group (U.K.), Inc. Inc. Nippon, Inc. Services, Inc. Security, Inc. Inc. ------------- -------------- ------------- -------------- -------------- ------------- CASE NO. 01-00072(PJW) 01-00073(PJW) 01-00076(PJW) 01-00077(PJW) 01-00080(PJW) 01-00082(PJW) Cash and cash equivalents, January 31, 2001 $ 100 $ 100 $ 500 $ 100 $ 225,107 $ 3,961,994 Total Receipts - - - - 55,636 948,222 Total Disbursements - - - - (99,144) (319,588) Loans and Advances - - - - - - Professional Fees - - - - - - ------------ -------------- ------------- ------------- ------------- -------------- Cash and cash equivalents, February 28, 2001 $ 100 $ 100 $ 500 $ 100 $ 181,599 $ 4,590,628 ============ ============== ============= ============= ============= =============
Note: See attached Statement 4 regarding subsidiaries not listed. Page 2 of 2 DEBTOR: Trans World Airlines, Inc., et al. FORM MOR-2 CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: February 28, 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: February 28, 2001
Current Month Year-to-date ----------------- ----------------- Operating Revenues: Passenger $ 213,102,229 $ 440,080,520 Freight and mail 6,755,768 13,966,558 All other revenues 18,924,133 38,655,075 ----------------- ----------------- Total 238,782,130 492,702,153 ----------------- ----------------- Operating Expenses: Salaries, wages and benefits 104,345,945 217,338,062 Aircraft fuel and oil 44,161,572 93,913,456 Passenger sales commissions 7,617,291 16,614,450 Aircraft maintenance materials and repairs 7,032,354 13,140,154 Depreciation and amortization 10,592,391 21,166,268 Operating lease rentals 57,519,904 115,661,087 Passenger food and beverages 5,645,481 11,873,431 All other expenses 55,857,693 114,242,976 ----------------- ----------------- Total 292,772,632 603,949,884 ----------------- ----------------- Operating Income (Loss) (53,990,501) (111,247,730) ----------------- ----------------- Other Charges (Credits): Interest expense 8,646,952 16,799,114 Interest and investment income (697,468) (1,204,165) Disposition of assets, gains and losses - net 81,125 61,188 Finance charge income (255,280) (782,715) Other charges and credits - net (252,735) (3,998,749) ----------------- ----------------- Total 7,522,594 10,874,674 ----------------- ----------------- Income (loss) before income taxes (61,513,096) (122,122,404) Provision (credit) for income taxes 1,182 8,182 ----------------- ----------------- Net income (loss) $ (61,514,278) $ (122,130,586) ================= =================
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 February 28, 2001 represent activity from January 1, 2001 through February 28, 2001. DEBTOR: Northwest 112th Street Corporation FORM MOR-2 CASE NO.: 01-00060 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: February 28, 2001 Current Month Year-to-date ------------- ------------ Income/Gain Items Rental Income $ 2,500 $ 5,000 ------------- ------------ Total Income Items 2,500 5,000 Expense/Loss Items Amortization of Gates - - ------------- ------------ Total Expense Items - - ------------- ------------ Net Income/(Loss) $ 2,500 $ 5,000 ============= ============ 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 February 28, 2001 represent activity from January 1, 2001 through February 28, 2001. DEBTOR: TWA-LAX Gate Company, Inc. FORM MOR-2 CASE NO.: 01-00069 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: February 28, 2001 Current Month Year-to-date ------------- ------------ Income/Gain Items Revenue $ - $ - ------------- ------------ Total Income Items - - Expense/Loss Items Amortization of Gates 125,000 250,000 ------------- ------------ Total Expense Items 125,000 250,000 ------------- ------------ Net Income/(Loss) $ (125,000) $ (250,000) ============= ============ 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 February 28, 2001 represent activity from January 1, 2001 through February 28, 2001. DEBTOR: TWA-Omnibus Gate Company, Inc. FORM MOR-2 CASE NO.: 01-00072 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: February 28, 2001 Current Month Year-to-date ------------- ------------ Income/Gain Items Revenue $ - $ - ------------- ------------ Total Income Items - - Expense/Loss Items Amortization of Gates 86,667 173,333 ------------- ------------ Total Expense Items 86,667 173,333 ------------- ------------ Net Income/(Loss) $ (86,667) $ (173,333) ============= ============ 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 February 28, 2001 represent activity from January 1, 2001 through February 28, 2001. DEBTOR: TWA-San Francisco Gate Company, Inc. FORM MOR-2 CASE NO.: 01-00073 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: February 28, 2001 Current Month Year-to-date ------------- ------------ Income/Gain Items Revenue $ - $ - ------------- ------------ Total Income Items - - Expense/Loss Items Amortization of Gates 116,667 233,333 ------------- ------------ Total Expense Items 116,667 233,333 ------------- ------------ Net Income/(Loss) $ (116,667) $ (233,333) ============= ============ 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 February 28, 2001 represent activity from January 1, 2001 through February 28, 2001. DEBTOR: TWA - Getaway Group (U.K.), Inc. FORM MOR-2 CASE NO.: 01-00082 (PJW) STATEMENT OF OPERATIONS (Income Statement) REPORTING PERIOD: February 28, 2001
Current Month Year-to-date ------------- ------------ Operating Revenue $ 787,110 $ 1,306,449 Operating Expenses: Salaries, wages and benefits 85,045 172,598 Sales commissions 1,044 2,133 Depreciation and amortization 15,047 50,636 Operating lease rentals 12,805 25,675 All other expenses 809,653 1,104,586 ------------- ------------ Total 923,595 1,355,628 Operating Income (Loss) (136,485) (49,179) Other Charges (Credits) Interest expense - net of investment income (16,939) (35,453) Foreign currency translation 6,467 108,784 ------------- ------------ Total (10,472) 73,331 Income (loss) before income taxes (126,013) (122,510) Provision (credit) for income taxes (8,220) (8,220) ------------- ------------ Net income (loss) $ (117,793) $ (114,291) ============= ============
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 February 28, 2001 represent activity from January 1, 2001 through February 28, 2001. DEBTOR: Trans World Airlines, Inc., el al. FORM MOR-3 CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) BALANCE SHEET REPORTING PERIOD: February 28, 2001 Note: See attached Statement 4 regarding subsidiaries not listed. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: February 28, 2001 DEBTOR: Trans World Airlines, Inc. CASE NO.: 01-00056 (PJW) February 28, 2001 ------------------- Current Assets: Cash and cash equivalents $ 53,738,818 ------------------- Receivables: U.S. Government 4,225,127 General traffic 168,159,258 Other 14,005,400 ------------------- Total 186,389,784 Less allowance for doubtful accounts (8,178,052) ------------------- Total receivables - net 178,211,732 Receivables from subsidiaries & affiliated 70,910,405 companies Spare parts, materials and supplies, less allowance for obsolescence 87,095,218 Prepaid expenses 52,061,784 Other current assets 122,293,608 ------------------- Total 564,311,565 ------------------- Property: Property owned, at cost: Flight equipment 458,555,774 Prepayments on flight equipment 67,156,288 Land, buildings and improvements 80,141,305 Other property and equipment 92,827,239 ------------------- Total property owned 698,680,605 Less accumulated depreciation (192,747,404) ------------------- Property owned - net 505,933,201 ------------------- Property held under capital leases, at capitalized value: Flight equipment 176,094,420 Land, buildings and improvements 39,900,465 Other property and equipment 8,873,669 ------------------- Total property held under capital leases 224,868,554 Less accumulated amortization (146,064,233) ------------------- Property held under capital leases - net 78,804,321 ------------------- Total property - net 584,737,522 ------------------- Investments and other assets: Other investments and receivables 38,803,579 Investments in affiliated companies 70,296,894 Advances to subsidiaries (9,062,451) Unamortized debt expense 8,900,179 Long-term prepayments 59,524,404 Other deferred costs 7,924,527 Routes, gates and slots - net 146,277,140 Goodwill 608,321,468 Other 3,175,401 ------------------- Total 934,161,142 ------------------- Total $ 2,083,210,229 =================== Liabilities not subject to compromise Current Current maturities of long-term debt - DIP $ (171,978,200) Accrued interest - DIP (61,540) Advance ticket sales (259,082,306) Accounts payable (116,411,663) Employee compensation and vacations earned (135,066,042) Contributions to retirement and pension trusts (29,651,867) Taxes (9,289,738) Postretirement benefits other than pensions (39,500,000) ------------------- Total current (761,041,355) ------------------- Long Term Postretirement benefits other than pensions (515,470,373) ------------------- Total not subject to compromise (1,276,511,728) ------------------- Liabilities subject to compromise Secured: Secured debt (587,350,218) Capital leases - aircraft (94,500,308) Capital leases - other (33,580,085) Accrued interest - long term debt (19,220,850) Accrued interest - aircraft leases (2,709,145) Accrued interest - other leases (221,948) ------------------- Total secured (737,582,553) ------------------- Priority: Transportation taxes (110,018,895) Property taxes (5,794,654) ------------------- Total priority (115,813,549) ------------------- Unsecured: Accounts payable (127,909,913) Other accrued expenses (230,820,315) Other liabilities and deferred credits (142,596,200) Intercompany payables (1,313,788) Accounts payable to affiliated companies (5,152,872) ------------------- Total unsecured (507,793,088) ------------------- Total subject to compromise (1,361,189,190) ------------------- Total liabilities (2,637,700,918) ------------------- Shareholders' equity: 8% cumulative convertible exchangeable preferred stock $50 liquidation preference (4,655) 9 1/4% cumulative convertible exchangeable preferred stock, $50 liquidation preference (3,689) Employee preferred stock, $0.01 (60,584) liquidation preference Common stock, $0.01 par value (788,516) Additional paid-in capital (733,169,304) Accumulated deficit 1,288,517,436 ------------------- Total 554,490,689 ------------------- Total $ (2,083,210,229) =================== 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: February 28, 2001 DEBTOR: Northwest 112th Street Corporation CASE NO.: 01-00060 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 18,114 ---------------------------- Total 18,114 ---------------------------- Investments and other assets: Land 451,440 ---------------------------- Total 451,440 ---------------------------- Total $ 469,554 ============================ Liabilities subject to compromise: Priority: Income tax payable $ (79,533) Accrued taxes (4,450) ---------------------------- Total priority (83,983) ---------------------------- Unsecured: Miscellaneous services payables (165,000) ---------------------------- Total unsecured (165,000) ---------------------------- Total liabilities (248,983) Shareholders' equity: Capital stock (500) Additional paid-in capital (451,440) Accumulated deficit 236,369 Net income (5,000) ---------------------------- Total (220,571) ---------------------------- Total $ (469,554) ============================ 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: February 28, 2001 DEBTOR: The TWA Ambassador Club, Inc. CASE NO.: 01-00061 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 100 ---------------------------- Total 100 ---------------------------- Investments and other assets: Advances to TWA - ---------------------------- Total - ---------------------------- Total $ 100 ============================ Liabilities subject to compromise: Unsecured: Advances from TWA $ - ---------------------------- Total - ---------------------------- Shareholders' equity: Common stock (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: February 28, 2001 DEBTOR: Trans World Computer Services, Inc. CASE NO.: 01-00062 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 1 ---------------------------- Total 1 ---------------------------- Investments and other assets: Advances to TWA - ---------------------------- Total - ---------------------------- Total $ 1 ============================ Liabilities subject to compromise: Unsecured: Accounts payable $ - ---------------------------- Total - ---------------------------- Shareholders' equity: Capital stock (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. OFFICE OF THE U.S. TRUSTEE FORM MOR-3 BALANCE SHEET REPORTING PERIOD: February 28, 2001 DEBTOR: Transcontinental & Western Air, Inc. CASE NO.: 01-00063 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 1,000 ---------------------------- Total 1,000 ---------------------------- Total $ 1,000 ============================ Liabilities subject to compromise: Unsecured: Accounts payable $ - ---------------------------- Total - ---------------------------- Shareholders' equity: Capital stock (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: February 28, 2001 DEBTOR: TWA Group, Inc. CASE NO.: 01-00065 (PJW) February 28, 2001 -------------------------- Current Assets: Cash and cash equivalents $ 102,482 -------------------------- Total 102,482 -------------------------- Investments and other assets: Investment in Getaway Management Services 478,934 Investment in Trans World Express, Inc. (54,574) Investment in TWA Employee Services, Inc. 100 Investment in The Getaway Group, Inc. 2,666,626 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) ========================== Liabilities subject to compromise: Unsecured: Advances from TWA $ (219,274) -------------------------- Shareholders' equity: Capital stock (2,400) Additional paid-in capital (84,256,347) Accumulated deficit 120,479,507 -------------------------- Total 36,220,759 -------------------------- 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: February 28, 2001 DEBTOR: TWA - LAX Gate Company, Inc. CASE NO.: 01-00069 (PJW) February 28, 2001 ----------------------------- Current Assets: Cash and cash equivalents $ 100 ----------------------------- Total 100 ----------------------------- Investments and other assets: Gate Value 6,750,000 ----------------------------- Total 6,750,000 ----------------------------- Total $ 6,750,100 ============================= Liabilities subject to compromise: Unsecured: Advances from TWA $ - ----------------------------- Total - ----------------------------- Shareholders' equity: Capital stock (100) Additional paid-in capital (12,625,000) Retained Earnings 5,625,000 Accumulated deficit 250,000 ----------------------------- Total (6,750,100) ----------------------------- Total $ (6,750,100) ============================= 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: February 28, 2001 DEBTOR: TWA - Omnibus Gate Company, Inc. CASE NO.: 01-00072 (PJW) February 28, 2001 ----------------------------- Current Assets: Cash and cash equivalents $ 100 ----------------------------- Total 100 ----------------------------- Investments and other assets: Gate value 4,680,000 ----------------------------- Total 4,680,000 ----------------------------- Total $ 4,680,100 ============================= Liabilities subject to compromise: Unsecured: Accounts payable $ - ----------------------------- Total - ----------------------------- Shareholders' equity: Capital stock (100) Additional paid-in capital (8,753,333) Retained Earnings 3,900,000 Accumulated deficit 173,333 ----------------------------- Total (4,680,100) ----------------------------- Total $ (4,680,100) ============================= 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: February 28, 2001 DEBTOR: TWA - San Francisco Gate Company, Inc. CASE NO.: 01-00073 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 100 ---------------------------- Total 100 ---------------------------- Investments and other assets: Gate value 6,300,000 ---------------------------- Total 6,300,000 ---------------------------- Total $ 6,300,100 ============================ Liabilities subject to compromise: Unsecured: Accounts payable $ - ---------------------------- Total - ---------------------------- Shareholders' equity: Capital stock (100) Additional paid-in capital (11,783,333) Retained Earnings 5,250,000 Accumulated deficit 233,333 ---------------------------- Total (6,300,100) ---------------------------- Total $ (6,300,100) ============================ 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: February 28, 2001 DEBTOR: TWA Nippon, Inc. CASE NO.: 01-00076 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 500 Receivable from NCA 15,899 ---------------------------- Total 16,399 ---------------------------- Investments and other assets: Advances to TWA 9,481,790 ---------------------------- Total 9,481,790 ---------------------------- Total $ 9,498,189 ============================ Liabilities subject to compromise: Unsecured: Advances from TWA $ (121,372) Payable to TWA (14,751) ---------------------------- Total (136,124) ---------------------------- Shareholders' equity: Capital stock (100) Additional paid-in capital - Accumulated deficit (9,361,965) ---------------------------- Total (9,362,065) ---------------------------- 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: February 28, 2001 DEBTOR: TWA Employee Services, Inc. CASE NO.: 01-00077 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 100 ---------------------------- Total 100 ---------------------------- Investments and other assets: Advances to TWA - ---------------------------- Total - ---------------------------- Total $ 100 ============================ Liabilities subject to compromise: Unsecured: Accounts payable $ - ---------------------------- Total - ---------------------------- Shareholders' equity: Capital stock (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: February 28, 2001 DEBTOR: TWA Getaway Vacations, Inc. CASE NO.: 01-00078 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ - ---------------------------- Total - ---------------------------- Investments and other assets: Special deposits longterm 211,316 ---------------------------- Total 211,316 ---------------------------- Total $ 211,316 ============================ Liabilities subject to compromise: Unsecured: Accounts payable $ (756,931) Accounts payable to TWA (47,466,655) ---------------------------- Total (48,223,586) ---------------------------- Shareholders' equity: Add'l paid-in capital (890,415) Retained Earnings 48,902,684 ---------------------------- Total 48,012,270 ---------------------------- 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 FORM MOR-3 BALANCE SHEET REPORTING PERIOD: February 28, 2001 DEBTOR: Trans World Express, Inc. CASE NO.: 01-00079 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ - ---------------------------- Total - ---------------------------- Investments and other assets: - ---------------------------- Total - ---------------------------- Total $ - ============================ Liabilities subject to compromise: Unsecured: Accrued expenses $ (54,575) ---------------------------- Total (54,575) ---------------------------- Shareholders' equity: Common stock (100) Additional paid-in capital (133,427,006) Accumulated deficit 133,481,681 ---------------------------- Total 54,575 ---------------------------- 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 FORM MOR-3 BALANCE SHEET REPORTING PERIOD: February 28, 2001 DEBTOR: International Aviation Security, Inc. CASE NO.: 01-00080 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 181,599 General traffic OAL's 8,287 Other 27,553 Receivables from TWA - Prepaid expenses 42,614 ---------------------------- Total 260,054 ---------------------------- Property Security equipment 56,869 Furniture, fixtures and office 2,126 Other property and equipment 21,919 (less: Accumulated Depreciation) (77,427) ---------------------------- Total 3,486 ---------------------------- Investments and other assets: Investment in affiliates 105,156 Other investments 68,658 Other assets - ---------------------------- Total 173,814 ---------------------------- Total $ 437,354 ============================ Liabilities subject to compromise: Priority: Income taxes $ (30,799) Taxes other than income (53,604) ---------------------------- Total priority (84,403) ---------------------------- Unsecured: Accounts payable (492,776) Advances from TWA (399,889) ---------------------------- Total unsecured (892,664) ---------------------------- Total liabilities (977,067) ---------------------------- Shareholders' equity: Capital stock (100) Common stock (105,156) Retained earnings (1,822,875) Accumulated deficit 2,467,843 ---------------------------- Total 539,713 ---------------------------- Total $ (437,354) ============================ 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: February 28, 2001 DEBTOR: Getaway Management Services, Inc. CASE NO.: 01-00081 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ - Other Receivables 494,259 Prepaid expenses (523) Other Current Assets 139,514 ---------------------------- Total 633,250 ---------------------------- Investments and other assets: Other Deferred Costs 11,034 ---------------------------- Total 11,034 ---------------------------- Total $ 644,284 ============================ Liabilities subject to compromise: Priority: Taxes other than income $ (7) ---------------------------- Total priority (7) ---------------------------- Unsecured: Accounts payable (29,717) Intercompany Accounts Payable (135,626) ---------------------------- Total unsecured (165,342) ---------------------------- Total liabilities (165,350) ---------------------------- Shareholders' equity: Retained earnings (478,934) ---------------------------- Total (478,934) ---------------------------- Total $ (644,284) ============================ 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: February 28, 2001 DEBTOR: The Getaway Group U.K., Inc. CASE NO.: 01-00082 (PJW) February 28, 2001 ---------------------------- Current Assets: Cash and cash equivalents $ 4,590,628 General Traffic Receivables 57,951 Other Receivables 141,066 Intercompany Receivables 742,818 Prepaid expenses 168,745 Other Current Assets (137,050) ---------------------------- Total 5,564,159 ---------------------------- Property Land, Buildings and Improvements 591 Other property and equipment 859,447 (less: Accumulated Depreciation) (554,674) ---------------------------- Total 305,364 ---------------------------- Investments and other assets: Other assets (58,244) ---------------------------- Total (58,244) ---------------------------- Total $ 5,811,279 ============================ Liabilities subject to compromise: Priority: Taxes other than income $ (39,663) ---------------------------- Total priority (39,663) ---------------------------- Unsecured: Accounts payable (3,085,738) Intercompany Accounts Payable (33,645) ---------------------------- Total unsecured (3,119,382) ---------------------------- Total liabilities (3,159,045) ---------------------------- Shareholders' equity: Common stock (100,000) Retained earnings (2,666,526) Accumulated deficit 114,291 ---------------------------- Total (2,652,235) ---------------------------- Total $ (5,811,279) ============================ 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. FORM MOR-5 DEBTOR: Trans World Airlines, Inc., et al. CASE NO.: 01-00056 (PJW) through 01-00082 (PJW) Reporting Period: February 1, 2001 through February 28, 2001 ACCOUNTS RECEIVABLE AGING $(000's)
Receivables Total Current 31-60 61-90 Over 90 -------- -------- ------- ------- ------- Air Travel Plan $ 24,477 $ 15,577 $ 5,494 $ 1,390 $ 2,016 Getaway 8,545 7,829 264 111 341 Outside Credit Cards 31,643 31,643 - - - Non Transportation Services 26,566 8,968 7,384 1,339 8,875 Cargo 10,964 8,347 1,414 491 712 Overseas Accounts 21,121 13,439 912 (12) 6,782 Travel Agents System 39,276 39,276 - - - TWA Lift Due from OAL's 18,842 18,842 - - - All Other 4,956 4,956 - - - --------- --------- -------- ------- -------- Total $ 186,390 $ 148,877 $ 15,468 $ 3,319 $ 18,726 ========= ========= ======== ======= ========
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 a 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: February 1, 2001 through February 28, 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: February 1, 2001 through February 28, 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: February 1, 2001 through February 28, 2001 All post-petition accounts payable of Trans World Airlines, Inc., et al. are being paid as they become due in the normal course of business. As of February 28, 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: February 1, 2001 through February 28, 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: March 25, 2001 -------------------------------------------------------------------- Name/Title Jane Closterman/Vice President and Controller -------------------------------------------------------------------- Address: -------------------------------------------------------------------- Telephone: -------------------------------------------------------------------- DEBTOR IN POSSESSION By:/s/ Jane Closterman -----------------------