According to reports, TWA is extending the auction for the airline until Friday, when lawyers for the company are set to give their opinion in bankruptcy court in Wilmington, Del. The judge is expected to hand down a decision at the hearing
If the Icahn-led bid prevailed, Brian Freeman, the CEO of TWA Acquisitions, would reportedly take the helm of TWA, serving as the airline's chairman and chief executive.
Icahn, in reports, is said to have no plans to participate in TWA's daily operations.
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