AIRLINES: Can Pan American Survive

Can Pan American Survive?

The old advertising jingle proclaims that "Pan Am makes the going great," but recently things have been going anything but great for Pan American World Airways. Indeed the airline seems to have been hit by nearly every conceivable disaster, from a seemingly unstoppable flow of red ink to a string of air crashes. Financially, the biggest calamity has been the soaring price of jet fuel brought on by the Arab oil offensive. Prices rose so high during the last quarter of 1973 that what had been expected to be...