Airlines: Grounded for Good

Grounded for Good

"We are very sorry to advise you Pan American Airways has suspended operation. All flights are canceled . . . "

In the end, it was as straightforward as that -- a recorded message greeting passengers when they called the Pan American World Airways reservation desk last Wednesday. After 64 years, the aviation pioneer was grounded for good. The airline's five unions had just agreed to $43 million in concessions, but that was not enough. Pan Am was counting on Delta Airlines for an additional $25 million. But Delta, which had come up with $115 million to keep Pan Am flying...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!