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Aside from the DC-8, the Boeing 707 and 747, the Pan Am jet fleet included Boeing 720Bs and 727s (the first aircraft to sport Pan Am rather than Pan American – titles [68]). The airline later had Boeing 737s and 747SPs (which could fly nonstop from New York to Tokyo), Lockheed L-1011 Tristars, McDonnell-Douglas DC-10s, and Airbus A300s and A310s.
Pan Am, now operating with the Carnival certificate, quickly resumed limited charter operations while new owner Guilford Transportation Industries acquired certain assets of the bankrupt companies after court approval. The company emerged from bankruptcy in June 1998 again as Pan American Airways, the third incarnation of the Pan Am brand.
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In 1970 alone, Pan Am carried 11 million passengers to 86 countries worldwide. But after decades of financial turbulence, Pan Am went bust. The rise and fall of Pan Am [Video]
When Pan Am declared bankruptcy in early 1991 and was forced to sell its New York hub to Delta Air Lines, Pan Am Express continued to operate the northeast regional system and the Miami system for Pan Am until the brand was shut down together with its parent on December 4, 1991. On that date, Ransome / Pan Am Express was sold to Trans World ...
The Pan Am brand was sold by the second incarnation of Pan American World Airways to New Hampshire-based Guilford Transportation Industries, a railroad company headed by Timothy Mellon. After this transaction, a new airline was established on June 29, 1998. Guilford launched Pan American Airways with a fleet of seven Boeing 727-200s.
Pan American World Airways: New York: PA: PAA: CLIPPER: New York Kennedy: 1927: 1991: Went bankrupt Pan Am Cargo: 1963: 1983: Subsidiary of Pan American World Airways: Pan Am Express: RZ: PXX: PAN AM: Miami: 1981: 1991: A flight connection code sharing service operated by several air carriers. See also Ransome Airlines: Pan Am Shuttle: 1986: To ...
One major element in almost every airline bankruptcy is the rejection by the debtor of its current collective bargaining agreements with employees. After satisfying certain requirements, bankruptcy law permits courts to approve the rejection of labor contracts by the debtor-employer. With this tool, airline managers reduce costs.