Pan Am Files Chapter 11, Grounds Fleet

Pan American World Airways, a 17-month-old startup carrier that tried to use its defunct predecessor’s famous name to help carve a niche in the airline business, grounded its fleet and filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Miami-based airline, which had provided service mostly in the East, said its parent company, Pan Am Corp., would continue seeking financing to resurrect Pan Am’s service. Pan Am said ticket-holders should call (800) 359-7262 to inquire about refunds. Launched in September 1996, Pan Am was started by executives who bought the name and globe logo from the bankruptcy estate of the original Pan Am, which was one of the airline industry’s legendary operators until it collapsed in 1991.