Editing Trans World Airlines (section)

====Falling out between Hughes and Frye====
Frye and Hughes had a falling out in 1947. Hughes's financial advisor [[Noah Dietrich]] wrote that "Frye's inept handling of costs, his inefficient operations, his extravagance with new purchases of equipment, all these factors combined to nosedive the TWA stock from 71 at the war's end to 9 in 1947". The airline was losing $20,000,000 a year, was in danger of not being able to acquire fuel for its planes due to being deeply indebted to oil companies, and the pilot's union went on strike. Hughes provided $10,000,000 worth of financing, which was later converted to 1,039,000 shares, Frye was removed, and Hughes added 11 members to the board, giving him control. Thus ended the era of "The Airline Run by Flyers".<ref name="Noah">{{cite book |last1=Dietrich |first1=Noah |last2=Thomas |first2=Bob |title=Howard, The Amazing Mr. Hughes |date=1972 |publisher=Fawcett Publications, Inc. |location=Greenwich |pages=145–148, 222–232}}</ref>
{{pax
| note = (scheduled flights only, domestic plus international)
| footnote =<ref>Handbook of Airline Statistics (biannual CAB publication)</ref>
| 1951 | 1875
| 1955 | 3477
| 1960 | 5490
| 1965 | 10225
| 1970 | 18599
| 1975 | 20957
}}
LaMotte Cohu took over as president, and TWA ordered 12 [[Lockheed L-749 Constellation]]s on October 18, 1947. Cohu was replaced by Ralph Damon in 1948. As president of [[American Airlines]] (AAL), Damon was a proponent of AAL being in the transatlantic market. Damon approved the mergers of AAL and American Export in 1945 to form [[American Overseas Airlines]] (AOA). When C.R. Smith sold AOA to Pan American, Damon became disillusioned with AAL. As a consequence, Hughes was able to hire Damon to run TWA. Damon described air transportation as "a race between technology and bankruptcy." Over the next 7 years, Damon introduced practices within the industry that became standard, such as multi-class service with first class and economy class. Damon also brought financial stability by eliminating the company deficit, which was reflected in the stock price rising into the 60s. [[Carter L. Burgess]] then took over in 1957, but lasted less than a year, unable to work with Hughes' meddling.<ref name=Rummel/>{{rp|137–138, 151–152}}<ref name=Karash/>{{rp|36}}<ref name=Noah/>{{rp|248–252}}

On May 31, 1949, TWA ordered 20 Lockheed 749As. They were operated by TWA for the next 17 years.<ref name=Rummel/>{{rp|170}}