For many, the name Pan Am conjures up images of the golden age of air travel, when instead of being packed into a metal tube like sardines, travellers were afforded the luxury of space and exquisite food.
But the untimely demise of one of the most famous airlines in the world came in December 1991 when it ceased operations after declaring bankruptcy in the January. That year proved to be a difficult one for US aviation as Pan Am joined the likes of Eastern Air Lines and Midway Airlines who had both fallen earlier in the year.
Following its insolvency filing, Delta Air Lines subsequently purchased the remaining profitable assets including its European routes, Frankfurt hub, shuttle operation and the Pan Am Worldport at JFK airport, all for $416m.
The Atlanta-based operator also injected $100m into the now smaller reorganised Pan Am, which was being transformed into a Caribbean, Central and South American airline set to operate from a main hub in Miami.
The new airline was forecast to generate about $1.2bn in annual revenue, using 60 aircraft and a wo…