Word: pan
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Dates: during 1970-1979
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...airline that will be first with the most 747s, and thus must cope with every one of the bumps in what airmen call a new plane's "learning curve," is Pan American. As if that were not enough, the company is already experiencing more than its share of turbulence. Last year it lost an estimated $23 million, $7 million in the month of November alone. It is getting much tougher competition from archrival Trans World Airlines on the North Atlantic route, and it faces a flock of new competitors on transpacific routes that it once all but monopolized. Now, with...
...must make the wager pay off is Najeeb Elias Halaby, 54, Pan Am's new president and chief executive. Halaby has not yet had time to demonstrate that he can lead a losing airline back to solid profits, but he has sound credentials for that difficult job. Before he landed at Pan Am, he was in turn an outstanding pilot, a practicing lawyer, a corporate executive and an imaginative, activist chief of the Federal Aviation Administration. He also showed himself to be accomplished in personal public relations, seldom failing to remind audiences that he was President Kennedy's principal adviser...
...competition, and their entry became the C-5A. The two losers, Boeing and Pratt & Whitney, were eager to find a market for their rejected designs. Boeing's chief, William Allen, decided to risk what turned out to be $1 billion in turning the military reject into a commercial success. Pan American's founder, Juan Trippe, who had ordered the first 707s a decade before, was still in command. He backed Allen by placing the first order for 25 of the 747s and taking an option for more...
Middle-Age Spread Early design difficulties are inherent in building any plane, and the 747's major troubles now seem to be over come. Two weeks ago, the FAA gave the plane an airworthiness certificate, the final approval needed to fly passengers. Recalling a recent conversation with Pan Am's best-known director, Charles Lindbergh, Halaby says: "Slim Lindbergh and I were sitting in the 747, and we decided to list the greatest civil air transports of all time. We picked the German JU-52, the DC-3, the DC-6, the 707 family of jets...
...That assessment had better be right, because Pan Am needs a major new success. Almost as soon as it started flying from Key West to Havana in 1927, Pan Am became the high and mighty among U.S. air carriers. Patrician Boss Juan Trippe maintained what was virtually his own state department to negotiate landing rights with foreign governments; at home, he had the political clout of a board of directors that has always included more former high Government and military officers than that of probably any other U.S. company. Among the current crew: Cyrus Vance, Alfred Gruenther, William Scranton...