Pan Am Prepares to Fly Again: A former executive of defunct Pan American World Airways announced that it plans to begin flying again within six months using a strategy of low costs and alliances with small foreign airlines. Martin Shugrue, Pan Am’s chief operating officer before the airline folded in 1991 and now its president and CEO, said investors, including Miami real estate developer Charles Cobb, have raised the $30 million needed to get started. Initial daily routes will run between Miami and New York, New York and San Francisco, and New York and Los Angeles. Pan Am plans to apply for an operating certificate from the Transportation Department. Shugrue said the company will hire 400 to 500 people and will actively recruit those laid off when Pan Am went under.