PanAm is known as Pan American World Airways. It was one of the important international airline of the United States of America. It remained the most prominent airline company in the US from 1930s to 1991. The airline company was founded as a sea plane service from Key West in Florida. It went to become a major airline company of US by undertaking several innovative measures. The company started to use wide number of jumbo jets and jet aircrafts. It also started computerized reservation system. The logo of PanAm is popularly known as “the blue ball”. It also uses the word “clipper”.
History of PanAm:
Pan American Airlines was founded on March 14, 1927. It was established by by Major Henry H. "Hap" Arnold and his associates. In the same year Juan Trippe established the Aviation Corporation of America. They acquired a small airlines company and on October 11, 1927, Richard Hoyt established The Atlantic, Gulf, and Caribbean Airways company. These three companies merged into one and on June 23, 1928, it came to be known as the Aviation Corporation of the Americas. The chairman of the company was Richard Hoyt and Trippe and his associates became 40 percent shareholder.
| Trippe and his partners then planned to extend the operations of the company and offered services to Central and South America. The company purchased a number of ailing and defunct airlines between the late 1920s and the early 1903s. It also started to negotiate with postal officials to get the airmail contract of the region. By the end of 1929, the airline company offered services from South America to Peru. In the next year PanAm purchased New York, Rio, and Buenos Aires Line or NYRBA. It also became the partner of Grace Shipping Company. In the year 1929, it combined with Grace Shipping Company to form Pan American-Grace Airways. It is better known as Panagra.
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The holding company of PanAm is known as Aviation Corporation of the Americas. It became a very popular stock in the share market during the year 1929. The stock rose to more than 50 percent in a single day.
But after 1973 energy crisis the operational cost of the company was severely affected. The fuel prices increased and the demand for air travel also saw a significant downfall. Thus the number of passengers were reduced and the profit margins were also equally affected. It had invested a lot of money in a large fleet of aircrafts because the company expected that air travel will continue to rise. But it was not so. Ultimately on December, 4, 1991, PanAm ceased its operation.
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