Because of the debtor in possesion financing that AA provided. This pretty much blocked anyone else from making a move for TWA without having to give AA a chunk of change.
As an ex TWA employee, this discussion of bringing back TWA is getting a little old. Compton ran the airline into the ground to sell it off to AA with employee approval. You loved Compton and you loved the idea to working for AA.
Compton had no business as CEO of TWA and when they wanted...
You knew they didn't go through with this deal because they felt sorry for TWA, it was a business decision. Same as it was a business decision to lay off employee's and close bases. I worked at KCAC and left with an offer on the table to work for AA. I wanted to work for Trans World Airlines...