Word: panair
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...Panair do Brasil, No. 1 Brazilian airline and Pan American Airways' biggest subsidiary, last week had its worst operational accident in years. One of its accountants was missing, and so was at least $275,000 of company funds...
...Panair executives, who had built up perhaps the finest operational record of any South American airline, the scandal was tough luck. Last week, Pan American, which owns 48% of Panair's stock, rushed a task force of two vice presidents and two controllers from the U.S. to go over the books behind locked doors. As reports spread that the shortage was much greater than first announced, Panair Manager Frank Sampaio abruptly resigned, without explanation...
...mail contracts. In island chains and jungles, his crews hacked out airports, strung together radio and weather networks. The better to feed his mushrooming lines, he formed a brood of subsidiaries and affiliates, of which he still has 18; the biggest are Pan American-Grace Airways and Panair do Brasil.** Whenever competitors tried to horn in, quick-thinking, quick-moving Juan Trippe managed to outfly them, outflank them or simply outlast them...
...boom had been touched off last fall when Aerophile U.S. Ambassador Adolf A. Berle Jr. fetched two dozen brand-new U.S. Army C-47s (military version of the Douglas DC-3) south to be sold as surplus property. Most of the planes went to big carriers like Cruzeiro and Panair, whose routes along the coast and across the heartland cover three times the mileage of any U.S. domestic airline. But others were bought by rugged individualists who quickly formed companies and sold stock, sometimes before getting franchises...
...fact that the Johnny-come-latelys got the same equipment annoyed the big lines only for a while. Last week, Panair do Brasil, Pan American's local subsidiary and the first non-U.S. company to get a Constellation, flew one from Rio to Casablanca to scout a route to London and Paris for the first Brazilian overseas airline. But Panair President Paulo Sampaio had only a brief headstart on Cruzeiro, whose DC-4s will be flying the Atlantic before summer...