AVIATION: Run for the Money

Pan American World Airways landed a prize it had long been angling for—the right to fly passengers to Paris and Rome (it now goes to London and Frankfurt). The prize was part of a circuit court of appeals decision last week approving Pan Am's purchase of American Overseas Airlines for $17.5 million (TIME, July 24).

Another result: Trans World Airlines, which long had battled the merger, finally gave up, mollified by CAB permission to fly to London and Frankfurt. Said T.W.A. Chairman Warren Lee Pierson: "The court has spoken. T.W.A. intends to say it with service."

Pan Am will also have something...

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