AIRLINES: Transit from Terrible

As they have for the past several years, officials of Pan American World Airways are looking forward to March 31 with all the anticipation of a prisoner facing execution. By that date a group of the nation's most powerful bankers must decide whether to renew the financially troubled air carrier's $300 million line of credit, without which Pan Am would be forced into a drastic reorganization. Pan Ann's top executives, as well as quite a few other airline experts, seem convinced that the nation's No. 1 overseas carrier will finally, after four years of disastrous losses, engineer a profit...

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