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Pan American World Airways, originally founded as Pan American Airways [2] and more commonly known as Pan Am, was an airline that was the principal and largest international air carrier and unofficial overseas flag carrier of the United States for much of the 20th century.
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.
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.
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 spirit of Pan Am lives on. For passengers eager to relive the days of flying the iconic airline, a charter company will re-create two early routes of the now long-gone carrier.
Operation of Worldport changed hands when Pan Am declared bankruptcy in 1991. Delta Air Lines acquired many of Pan Am's assets, including the lease on Worldport, which became known simply as "Terminal 3", and operated most of its long-haul flights out of JFK to Europe, Asia, Africa, and South America from the building.
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