JH>01 Mar 98 08:55, Jim Sanders wrote to All:
JH> JS>   Pan Am stays grounded as executives look for better bailout plan
JH> JS>      MIAMI - Feb 28, 1998 7:24 p.m. EST -- Pan Am rejected a $15
  > JS>  million bailout offer Saturday, saying it would run charters and
  > JS>  seek other funds before resuming commercial flights.
  > JS>      The airline ran out of cash and canceled its weekend flights
  > JS>  Thursday, claiming $50 million in assets and $147 million in debts.
JH>This is a sad end for a once proud line.  Nobody did trans-oceanic like 
they
  >did.
Actually, Jay, I think the once proud line has been gone for awhile.  As
I understand it, the "New" Pan Am only bought the right to use the old
Pan Am's logo and name.  It wasn't the same airline, and it involved
very few of the same people, routes, aircraft, etc.
                                                George
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