The original and greatest Pan Am ceased flying on Dec 4 1991 as was mentioned above.
Pan Am II
was started by investor Charles Cobb and former Pan Am President Marty Shugrue in 1996 (inaugural flight Sep 26, 1996) with a fleet of 3 ex-EA/CO A300s based in MIA
. They used mostly old EA
property and tax credits for the new company (Shugrue had also been the trustee for EA
). That company eventually grew to about 6 A300s servicing JFK
before merging with Carnival Air Lines in order to get access to other markets and narrow-bodied a/c (Pan Am II
was only certified by the FAA to operate 1 type as the government wanted to prevent new airlines from growing too fast and out-of-control after the Valujet accident). Not long after the merger, the company filed for bankruptcy and eventually stopped flying in 1998. At that time, they had pretty much grounded all A300s, returned Carnival's 737s to lessors, and were left with 2 727-200s (owned outright by KW
Pan Am III was started by Guilford Transportation when the owners bought the name and the 2 727s in bankruptcy court and started today's Portsmouth-based airline.