NBC News Clip: "Pan Am Files for Bankruptcy" (January 8, 1991)

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5 дек 2022

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Комментарии : 15

@MetroJet2000 Месяц назад

1:17 That statement aged like fine wine

@sparkingwave Год назад

There were two other mishaps that doomed Pan Am. After an Air India jet exploded from a terrorist bomb in 1985, the FAA effected a requirement in 1987 for baggage consolidation on all American carriers flying international routes. Baggage had to matched to onboard passengers and if the passenger was absent, their bags had to be unloaded. After Lockerbie in 1988, it was discovered that Pan Am did not follow this procedure and allowed a bag from a connecting flight in Frankfurt to fly on flight 103 (without the owner on board). If they had just held on to that bag at Heathrow, the tragic bombing could have been averted. The second mishap was that Pan Am CEO Thomas Plaskett skillfully leveraged a bid to buy out Northwest Airlines to restore the Pacific division it lost to United Airlines, but he was outbid by another investor, Al Checchi. If Pan Am had succeeded in acquiring Northwest it could have saved the airline from bankruptcy.

@stuartlee6622 Год назад

You're entirely correct!!! Pan Am got what it deserved!

@bearabletable7527 7 месяцев назад

so we blame Al Checchi for the doom of pan am

@TheReubenShow Год назад

Wow, Pan Am lost two billion in 1990, that's five billion today. That must have been so stressful for the employees. Today, Elon Musk can loose that much just opening his mouth.

@bearabletable7527 7 месяцев назад

someone tell ELON to relaunch PAN AM!

@josuehernandez097 4 месяца назад

Continental breakup in 1991 they were still in business and then united bottom and that’s why I was and that’s why the colors of continental on their planes because United Airlines bought, continental and all the employees are working for United

@AA-flyguy Год назад

If Pan Am world have had Better Law Firms, they would have been able to deal with that with success. Its a tool provided in our country. All airlines have filed at this point and Pan Am would have still been around. Delta was too proud to keep the Pan Am name and its not got the recognition that Pan Am did. More big dummies at Delta, who last filed for bankruptcy in 2005. I was in Miami at the end in December 1991 ready to start the New Pan Am. God I miss them!!

@sanitman1488 Год назад

I don’t know if better law firms would have helped but what I do know as former proud employee for this great company, two things 1. National airlines merger prior to deregulation and 2. Sale of pacific routes to crop duster United Airlines. Tremendous mistakes

@AA-flyguy Год назад

@@sanitman1488 Absolutely !! No one had the vision of Tripp after he passed in 1981. Yea. United IS still a crop duster 😑

@ashgreene4914 Год назад

Not even a 'better law firm' could have saved them at that point. Pan Am' route network at this point was simply uncompetitive to what the rival carriers were offering. There hub structure was lacking in serveral areas to appeal to the business traveller. Whereas, the airlines that filed Chapter 11 after 9/11 were in a far better position due to their strong route networks and massive fortress hubs which allowed them to survive their chp 11 filings. Pam Am at this point had none of that going for them.

@ashgreene4914 Год назад

Pam Am's brand at this point was too damaged at this point for any airline to want to keep their name. Hence that was why after the bombing of PA 103 they lost alot of business on their transatlantic flights compared to the rivals that the had to offer desperate sales promotions that gave away free tickets to those who choose to fly them transatlantic after the PA 103 bombing.