Word: panair
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...EASY TO DESTROY, BUT IT TAKES 35 YEARS TO BUILD! WE WILL NOT DIE! The protests were against one of the most severe economic reforms yet attempted by Brazil's revolutionary government. In a special decree, President Humberto Castello Branco ordered the country's big Panair do Brasil airline to cease operations immediately, grounded its planes, and turned over its domestic and international routes to other Brazilian lines...
...domestic carriers, including three with international routes. On some routes, as many as five lines compete for the same passengers, with the result that just about everybody loses money. The subsidies, emergency loans and other bailouts cost the Brazilian government uncounted millions each year. The worst drain was Panair, which has been losing an estimated $1,000,000 a month, and has run up a debt of $66.8 million...
...Never. Founded in 1929 by a group of New York investors and taken over the next year by the U.S.'s Pan American World Air ways, Panair was once South America's proudest and biggest airline. It pioneered the first services to the Amazon basin, expanded throughout the country, carried Brazil's flag to London, Paris, Frankfurt and Rome. As the jet age began, Panair added DC-8s and Caravelles to its fleet of Constellations and Catalinas...
...able to do things better with our own hands." With these nationalistic words, Brazilian Financier Celso Rocha Miranda, 43, took control of Panair do Brasil away from Pan American World Airways. Though Pan Am retained its 30% holdings in Panair, Miranda bought up the other 70%, mostly from Panair's Brazilian directors, for an estimated $5,000,000. A self-made millionaire-he is Brazil's biggest insurance broker-elegant Celso Rocha Miranda has ordered eight French Caravelle medium-range jets to put his new enterprise on a competitive footing with rival Brazilian airlines Varig and Real...
Chile's Linea Aérea Nacional, for example, is subsidized by the government, does a sedate business at I.A.T.A. rates by ap pealing to national pride. Others offer special services, such as the direct European flights of Panair do Brasil, Cubana Air lines and Colombia's 38-year-old Avianca...