Foreign Infusion OK, PanAm Says: Pan Am...

Foreign Infusion OK, PanAm Says: Pan Am Corp. said it was exploring the possibility of a partial sale to foreigners to survive. The statement by Chairman Thomas G. Plaskett suggested that Pan Am viewed foreign ownership as the most realistic way to escape an era of staggering losses that has mired the company in debt and left its future in doubt while competitors are expanding. “Pan Am is determined to be a major player in the evolving worldwide mega-carrier system,” Plaskett told a luncheon of aviation industry executives in New York. “If it takes the form of an infusion of capital from a foreign entity, we want to be free to do it openly and without subterfuge.”