It organized its profitable shuttle operation into a separate company, headed by Bruce Nobles, with the intent of selling it to raise cash.

[5] For that price, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities that the shuttle flew to, and the right to put his name on the company and its airplanes.

[6] The shuttle had previously been a "no-frills" operation for business travelers, but Trump announced that he would convert it to a luxury airline.

[8] The new Trump Shuttle operation launched on June 8, 1989, and by the end of August had returned to a strong market share of 40-50%.

Its aircraft were newly painted in white livery and the interiors redecorated with such features as maple wood veneer, chrome seat belt latches, and gold colored lavatory fixtures.

[9] Both Trump and Pan Am spent millions on advertising campaigns around this time in an attempt to maintain strong competitive positions.

[4] In August 1989, a Trump Shuttle flight arriving in Boston incurred a nose gear failure upon landing due to maintenance errors by Eastern personnel prior to the acquisition.

In late 1989, the Northeastern United States entered an economic recession which depressed demand, while the August 1990 Iraqi invasion of Kuwait caused jet fuel prices to double.

Following the default, Citibank made arrangements for Northwest Airlines to take control of the shuttle in exchange for relieving Trump's personal liability on its debt, and all sides were reportedly close to an agreement by April 1991.

[2][16] It was established on March 22, 1988, with three Sikorsky S-61 helicopters, which could carry 24 passengers each, with service between the West 30th Street Heliport in Manhattan and Bader Field and the Steeplechase Pier in Atlantic City.