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Pan American World Airways Finally Ends Chapter 11  
User currently offlineFlyGuyClt From United States of America, joined Aug 2005, 537 posts, RR: 8
Posted (8 years 4 months 2 weeks 13 hours ago) and read 13566 times:

http://kiplingerforecasts.com/apnews/XmlStoryResult.php?storyid=223666

Pan American World Airways. In Chapter 11 since 1991, will finally close the books soon. Former employees to receive final checks beginning in December.

Safe Flying  

[Edited 2006-08-16 23:57:46]


Florida Express, Braniff II and ......
61 replies: All unread, showing first 25:
 
User currently offlineEastern023 From United States of America, joined Jul 2006, 882 posts, RR: 0
Reply 1, posted (8 years 4 months 2 weeks 13 hours ago) and read 13527 times:

Finally put to rest.


AA will Rise Again!
User currently offlineRichardPrice From , joined Dec 1969, posts, RR:
Reply 2, posted (8 years 4 months 2 weeks 13 hours ago) and read 13497 times:

Quoting FlyGuyClt (Thread starter):
Former employees to receive final checks beginning in December.

Gotta say, thats going to be a nice, unexpected bonus for those employees. How many of them expected anything, especially after 15 years?


User currently offlineN174UA From United States of America, joined Jun 2006, 994 posts, RR: 0
Reply 3, posted (8 years 4 months 2 weeks 12 hours ago) and read 13462 times:

...And a lot of you were complaining about UA being in Ch. 11 for 3 years...though I think some things are still being settled by the court, even though they reemerged in Feb.

So, maybe UA will set a record like 15 years one day, who knows....  Wink


User currently offlineSpinkid From United States of America, joined Jul 2001, 1132 posts, RR: 0
Reply 4, posted (8 years 4 months 2 weeks 12 hours ago) and read 13430 times:

I wonder what kind of money will the employees actually get? I imagine it will be like $1.23 each.

User currently offlineSocal From United States of America, joined Mar 2005, 473 posts, RR: 0
Reply 5, posted (8 years 4 months 2 weeks 12 hours ago) and read 13311 times:

30 million thats all, they should of added another "0" at the end. But good for PanAm.  bigthumbsup 


I Love HNL.............
User currently offlineJetdeltamsy From United States of America, joined Nov 2000, 2987 posts, RR: 7
Reply 6, posted (8 years 4 months 2 weeks 12 hours ago) and read 13278 times:

Quoting FlyGuyClt (Thread starter):
In Chapter 11 since 1991

Not to be a nit-picker, but I believe Pan Am was in Chapter 7, which facilitates liquidation of a company. Chapter 11 allows the continued operation while restructuring takes place.



Tired of airline bankruptcies....EA/PA/TW and finally DL.
User currently offlineHiflyer From United States of America, joined Nov 2004, 2177 posts, RR: 3
Reply 7, posted (8 years 4 months 2 weeks 11 hours ago) and read 13151 times:

lessee 30,000,000 divided by 15,000.....

Dear Santa....


grin
Big version: Width: 80 Height: 74 File size: 2kb


User currently offlineVega From , joined Dec 1969, posts, RR:
Reply 8, posted (8 years 4 months 2 weeks 11 hours ago) and read 13126 times:

My Uncle, who worked for them for 20 years, died last year still waiting for his Distribution.

User currently offlineFlyGuyClt From United States of America, joined Aug 2005, 537 posts, RR: 8
Reply 9, posted (8 years 4 months 2 weeks 11 hours ago) and read 13069 times:

Quoting Jetdeltamsy (Reply 6):
Not to be a nit-picker, but I believe Pan Am was in Chapter 7, which facilitates liquidation of a company. Chapter 11 allows the continued operation while restructuring takes place.

Be whom ever you want to be on here. Most people are. You are correct. Chapter 11 since 1991. Not sure when it switched to Chapter 7.


Safe Flying  Smile



Florida Express, Braniff II and ......
User currently offlineJetstar From United States of America, joined May 2003, 1665 posts, RR: 10
Reply 10, posted (8 years 4 months 2 weeks 11 hours ago) and read 13030 times:
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I’m sure that after the all the money hungry fu--ing lawyers get their inflated legal fees from the settlement before the actual distribution of the final funds, the former Pan Am employees will probably get enough money to treat their families to a dinner at McDonalds.

User currently offlineFlyGuyClt From United States of America, joined Aug 2005, 537 posts, RR: 8
Reply 11, posted (8 years 4 months 2 weeks 11 hours ago) and read 13030 times:

My last check from Braniff.....10 years after was $1,100. The claim was for over $10,000.

Safe Flying  Smile



Florida Express, Braniff II and ......
User currently offlineDw9115 From United States of America, joined Dec 2005, 449 posts, RR: 2
Reply 12, posted (8 years 4 months 2 weeks 6 hours ago) and read 12658 times:

Now all we have to do is wait for PAN AM to rise from the ashes like a Phoenix and reclaim it's rightful place of airline dominance.

User currently offlineMoek2000 From United States of America, joined Jun 2006, 128 posts, RR: 0
Reply 13, posted (8 years 4 months 2 weeks 5 hours ago) and read 12254 times:

A little off topic, but I thought Pan Am was history but I recently saw a Pan Am 727 at Tunica... Now, how do I catch a flight on this bird?

User currently offlineADXMatt From United States of America, joined Jul 2006, 954 posts, RR: 1
Reply 14, posted (8 years 4 months 2 weeks 3 hours ago) and read 11929 times:

Quoting Moek2000 (Reply 13):
A little off topic, but I thought Pan Am was history but I recently saw a Pan Am 727 at Tunica... Now, how do I catch a flight on this bird?

It is actually Bostan Main Airlines flying PanAm Clipper Connection.

The Pan Am name was sold a few times....
One Pan Am start up merged with Carnival Airlines,
Another one bought the name and flew to Florida and Trans con from NY
and then sold again to a Portsmouth NH company who had a hub operation in Sandford Florida near Orlando. They stopped flying to bust the pilots union and gave the flying to their "connection" partner Boston Maine.


User currently offlinePilot3033 From United States of America, joined May 2006, 111 posts, RR: 0
Reply 15, posted (8 years 4 months 2 weeks 3 hours ago) and read 11816 times:

Quoting ADXMatt (Reply 14):
t is actually Bostan Main Airlines flying PanAm Clipper Connection.

The Pan Am name was sold a few times....
One Pan Am start up merged with Carnival Airlines,
Another one bought the name and flew to Florida and Trans con from NY
and then sold again to a Portsmouth NH company who had a hub operation in Sandford Florida near Orlando. They stopped flying to bust the pilots union and gave the flying to their "connection" partner Boston Maine.

IIRC, the logo and name now also appear on train boxcars. A shame really, someone should buy the name and put it to rest in it's rightful place.



-Matt
User currently offlineParabolica From Spain, joined Mar 2006, 85 posts, RR: 14
Reply 16, posted (8 years 4 months 2 weeks 1 hour ago) and read 11197 times:

ten bucks says Richard Branson will buy the rights to the most famous travel brand in history for something like a dollar, and make millions with it in some publicity-driven enterprise.

Pan Am will never die as long as Japanese and European teenagers are willing to pay $80 for blue and white replica 70's flight bags to go with their Ray Ban Aviators.

P-



oh please let there never be cell phones in airliners...
User currently offlineSkyhawk From United States of America, joined May 2001, 1066 posts, RR: 3
Reply 17, posted (8 years 4 months 1 week 6 days 23 hours ago) and read 10579 times:

If and when there is a distribution of monies, I will be most happy to fill all of you in on the amount. Both me and my husband worked for them, it will be quite interesting to see what the amount is.

User currently offlineGeorgiaAME From United States of America, joined Aug 2005, 1001 posts, RR: 6
Reply 18, posted (8 years 4 months 1 week 6 days 22 hours ago) and read 10258 times:

I assume this is the "original" incarnation of PanAM?


"Trust, but verify!" An old Russian proverb, quoted often by a modern American hero
User currently offlineDangould2000 From UK - Scotland, joined Dec 2005, 172 posts, RR: 0
Reply 19, posted (8 years 4 months 1 week 6 days 22 hours ago) and read 10110 times:

Quoting GeorgiaAME (Reply 18):

you assume correctly



Next Flights:- wherever the airline sends me
User currently offlineDeltaDC9 From United States of America, joined Apr 2006, 2844 posts, RR: 4
Reply 20, posted (8 years 4 months 1 week 6 days 22 hours ago) and read 10056 times:

Quoting Skyhawk (Reply 17):
If and when there is a distribution of monies, I will be most happy to fill all of you in on the amount. Both me and my husband worked for them, it will be quite interesting to see what the amount is.

I just hope it works out better than the 3 class actions I was involved in.

Hundreds of millions of dollars on each and I got checks that would not buy dinner. One from American General was $1.23 after legal fees. Hard number to forget.

Quoting FlyGuyClt (Reply 11):
My last check from Braniff.....10 years after was $1,100. The claim was for over $10,000.

Consider yourself a very lucky person, the lawyers could have easily taken it all.



Dont take life too seriously because you will never get out of it alive - Bugs Bunny
User currently offlineSteeler83 From United States of America, joined Feb 2006, 9272 posts, RR: 21
Reply 21, posted (8 years 4 months 1 week 6 days 20 hours ago) and read 9189 times:

Quoting Dw9115 (Reply 12):
Now all we have to do is wait for PAN AM to rise from the ashes like a Phoenix and reclaim it's rightful place of airline dominance.

As much as I would like to see this myself, I doubt it will happen...

On a side note, it would be supremely sweet to see the blue meat ball on the 737NG, and... especially... the new 748i... OOHH.. because the IFE on panam was superior to other carriers back in the day, for their IFE, they should install MP3 chips in each of the seats - with memory that you cannot get on an I-pod or any other mp3 player!!! That would put it miles above and beyond the competition! Big grin



Do not bring stranger girt into your room. The stranger girt is dangerous, it will hurt your life.
User currently offlineRoseFlyer From United States of America, joined Feb 2004, 9829 posts, RR: 52
Reply 22, posted (8 years 4 months 1 week 6 days 20 hours ago) and read 9062 times:

Quoting Jetstar (Reply 10):
I’m sure that after the all the money hungry fu--ing lawyers get their inflated legal fees from the settlement before the actual distribution of the final funds, the former Pan Am employees will probably get enough money to treat their families to a dinner at McDonalds.

If it wasn't for those lawyers keeping this case open for 15 years, then there would be no distribution. I know a lot of lawyers are scum, but they kept the case open and likely incurred quite a few expenses in order to go after the Libyan government. A 40% is big, but isn't it better that people get something rather than the Libyans getting off clean for the attack.



If you have never designed an airplane part before, let the real designers do the work!
User currently offlineStarGoldLHR From Heard and McDonald Islands, joined Feb 2004, 1529 posts, RR: 1
Reply 23, posted (8 years 4 months 1 week 6 days 18 hours ago) and read 8414 times:

So the money everyone is getting is the Libyan money, the money belonging to PanAm was eaten by the lawyers...


If Libya had settled 5 years ago, then the laywers would have eaten that too.



So far in 2008 45 flights and Gold already. JFK, IAD, LGA, SIN, HKG, NRT, AKL, PPT, LAX still to book ! Home Airport LCY
User currently offlineMCOflyer From United States of America, joined Jun 2006, 8691 posts, RR: 16
Reply 24, posted (8 years 4 months 1 week 6 days 18 hours ago) and read 8380 times:

Congrats to those people recieving a check.

MCOflyer



Never be afraid to stand up for who you are.
25 Cadet57 : Too bad its not possible... There is an PA flying right now based in New Hampshire...
26 RoseFlyer : Well he could probably buy that dying airline now if he wanted. He could then get himself an operating certificate for 727s and Jetstream 31s. Althou
27 MarkATL : Did they ever do a Chapter 7? They sold LHR to UA and the rest of Europe/NE Shuttle to DL. After that they ran out of money and quit flying. UA than
28 Cadet57 : Well I know the Jetstream flying is sched as they are adding new routes. But i think the 727's are charter for some vacation co.
29 MalpensaSFO : By rights that airline shouldnt even share the Pan Am name. It is nothing more than a Greyhound with wings. It is amazing what extremes people will g
30 Alitalia744 : Interesting that employees are finally receiving their final payments from Pan Am. I remember ages ago driving to JFK seeing blue meatball 747s everyw
31 MarkATL : They make Greyhound look bad. Their more like those cheep ass tour companies that use old Greyhound busses to take people out to Indian casino's to s
32 IDAWA : May Pan Am rest in peace...
33 MarkATL : Get a grip, it was poorly managed COMPANY, not a person. Wish a restfull peace to those inocent civilians on both sides of the border who died in Leb
34 DeltaDC9 : If that is what you think of a group of people that created one of the best airlines in history, that is too bad. Corporations are simply people work
35 TWAL1011727 : HAH - one item only and thats from the dollar value menu.... KD
36 ToTheStars : I couldn't agree more DeltaDC9. I had a PanAm flight attendant roomate in 91 when I was flying out of NY for TWA. She loved her company as much as I
37 Moek2000 : Very true. But in this day and age, I wouldn't mind paying a few bucks and experience bad service for a 1 hour flight in a classic 727.
38 PWM2TXLHopper : If you live in Tennessee, the easiest way to ride on one of their 727 is to hop on one of the Tunica-ATL flights. They fly Sunday, Tuesday, and Thurs
39 B52murph : This brings up an interesting question: Did Eastern ever settle it's bankrupcy? If so, does anybody know when? b52murph
40 INTENSS : What's the correlation with greyhound, exactly? What do you have to back up that statement? Have you flown on them? -Rich
41 MarkATL : Yes, I have flown all four. Pan American World Airways, Pan Am(Carnival), Pan Am III (charter flight) and Casino Express. Why do you ask?
42 JFKLGANYC : I remember Pan Am II. They were awesome to look at arounf JFK. For a while they became pretty big, operating out of TWAs old domestic terminal 6. TWA
43 INTENSS : I wanted to know the basis (as described in the question prior to the one you answered) for describing them as "a cheap ass company..?" -Rich
44 Clipper002 : I just got my letter from the Pan Am Liquidation Trust in the mail yesterday and it specifically refers to Chapter 11, not Chapter 7. I couldn't begin
45 Steeler83 : If I had the financial references, I'd bring it back in a heart beat! My choice of aircraft would be: 73G E90 (I guess it's too late for the 717...) a
46 INTENSS : I know the negative feelings most people on here have of the latest incarnation of Pan Am....but I found their product to be of above average quality
47 DeltaDC9 : This has been discussed here before. Bus travel in the US is as low end as it could possibly be. All you get is a seat on a dirty bus, questionable d
48 Panamair : Actually, the product and service of this Pan Am (run by Guilford) is very decent and has been in the Top 10 domestic US airlines lists regularly for
49 IFEMaster : You know, I miss Pan Am. My first flight was on Pan Am, and was great. I've decided that if I ever win the MegaMillions lottery (like that jammy kid i
50 INTENSS : I was thinking someone would say something like this.....have you ever flown them? They're service is quite good for a low fare carrier, they were wi
51 Hiflyer : For those that think they may be eligible but have not received the email....Jim "Creditors with questions about individual claims or the final distri
52 DeltaDC9 : Excuse me? Where in this thread have I said anything pro or con about PanAm III? You asked what the correlation was, I answered. BTW, the service you
53 MarkATL : Old Juan would be spinning faster than a Wright Cyclone at full throttle if that ever happened.
54 INTENSS : Nope, you missed it again. Fly them, and you'll see its not all that bad. If not, go on rambling about something you've never experienced and have no
55 Panamair : Actually Guilford has named one of the 727s after him....N349PA Clipper Juan Trippe....
56 MarkATL : Anyone got an Ouiji board they'd like to break out? We could set up at Dinner Key out behind City Hall and give ole Juan a shout!!
57 F9Animal : Whatever the case, it is still a blessing to see the old Pan Am scheme in the air. Regardless if you dislike the current Pan Am or not, you turn your
58 Twa1011 : I have actually flown on the current incarnation of Pan Am to Sanford and had an enjoyable flight. It was as much Greyhound with wings as Southwest is
59 INTENSS : That's what I was alluding to....as I've seen it just a few times... -Rich
60 Skyhawk : For those that are curious, I just spoke to the people at the Pan Am Liquidation Trust and found out that I will receive about $1000 in the final dist
61 Post contains images Steeler83 : Can I work for you if/when you do that???
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