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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.
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.
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.
Once Pan Am ceased operations in 1991 following a bankruptcy blamed in part on airline deregulation, increased competition and rising costs, Miami airport took over the headquarters building ...
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]
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Bartelings and the Pan Am Museum’s hope to create a flight for Miami is based on the city’s importance in the airline’s history. After starting in Key West in 1927, the airline moved ...
Terminal 3, also known by the trademarked name Worldport, was an airport terminal built by Pan American World Airways (Pan Am) in 1960 at John F. Kennedy International Airport in Queens, New York, United States. It operated from May 24, 1960 to May 24, 2013, and was demolished in 2013–2014.