AIRLINES

New Air Fare Battle: Trans World Airlines set off another brief fare war that quickly saw competitors slash ticket prices by up to 50%. TWA is offering $198 round-trip fares between New York and San Diego, Phoenix, Palm Springs and Tucson, Ariz. Tickets must be purchased by Thursday and travel completed by Jan. 31. The cuts were matched by other carriers, including Continental Airlines, which offered a $198 round-trip between Los Angeles and Boston. Last month, TWA briefly cut coast-to-coast fares by about 50% and was followed by other carriers.