Former low-fare airline ValuJet, rebranded AirTran Holdings following the disastrous crash of one of its aircraft into a Florida swamp in 1997, has entered into exploratory merger talks with Trans World Airlines, the eighth-largest carrier in the US.

Should a marriage emerge from the talks, it would unify two financially ailing carriers in the face of merger moves by some of the biggest and richest players in the industry.

News source: Wall Street Journal