TWA &lt;TWA> CONFIRMS OWNERSHIP OF USAIR &lt;U> STOCK

  Trans World Airlines Inc said it owns
  more than four mln USAir Group shares or about 15 pct of the
  total outstanding.
      TWA said it may acquire additional shares in the open
  market, in private transactions, through a tender offer or
  otherwise, subject to Department of Transportation approval.
      TWA has offered 52 dlrs per share for USAir Group. USAir
  rejected the offer yesterday, calling it a last-minute attempt
  to interfere with its takeover of Piedmont Aviation Inc.
      A TWA spokesman said the company has filed an application
  for approval on its offer to buy USAir with the Department of
  Transportation, and later today it will file a response to
  USAir's motion with the DOT to dismiss the TWA application.
      TWA said it made the statement today on its stock position
  in USAir in response to inquiries.
      Traders said they believed TWA Chairman Carl Icahn was the
  buyer of an 855,000 share block crossed today by Salomon
  Brothers.
      USAir stock was trading at 50-3/4, up 2-1/4 on heavy volume
  of 3.1 mln shares. TWA stock fell 3/8 to 30-5/8.
      While analysts and arbitragers have speculated that Icahn
  may have made the offer for USAir in order to trigger the
  acquisition of his own airline, Wall Street today began to take
  Icahn's effort more seriously.
      "I think he's going to be the next Frank Lorenzo of Wall
  Street," said one market source. Lorenzo, chairman of Texas
  Air, has added to his airline with the acquisitions of Eastern
  Airlines and People Express Airlines.
      There was also speculation that Icahn would like to buy
  USAir and then sell TWA as a merged company.
  

