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Posted by Joe Hefernan on 6/26/2012, 7:33 am, in reply to "More about PAN AM"
122.104.131.142
Hi Larry I read your comments about Pan Am. Yes I see where your coming from and being a former Pan Am employee like myself from Dublin based in LAX/LHR in the eighties. I do know for a fact one of the 747-212b's ship 729PA cn20713/219 which didn't belong to Pan Am as it was on a long term lease from SIA which was registered as 9V- SIB and Evergreen had taken possession of this aircraft after the demise of Pan Am and is currently still active. SIA lost out on this lease they never got there money back from Pan Am like many other financial brokers. Most of the aircraft were sent to the bone yards where the banks and financial brokers waited for a buyer or to release them out cheaper. But most had there fate sealed never to leave the desert floor again and have vanished into bits or parted out. I can recall early 1971 the first 25 741's delivered most were on leases or loans taken out to secure them. Trippe had millions in debit before the Jumbo Jet even flew. The 747sp 21 jets four belong to the bank of America I do know some arrangement with UAL had being put into place to take over the repayments at a cheaper rate. As for property some buildings were PAA's. I mean inside the operations with ground staff & sales alot could have contributed towards wastage and cheap discounted fares and this freaken frequent flyer program which made a great loss from free seats being redeemed for points instead of cash for seats across the Atlantic. Most of economy was made up of frequent flyers travelling thats where revenue was lost. Public relations department also built up a financial burden the cost of advertising material such as posters of destinations or aircraft post cards stationary the list goes on Larry millions wasted which could have being avoided if the finance department didn't over look this. Other departments and board room meetings with all the trimmings company cars accommodation for the management all contributed to the demise. I mean some of them were on high take home wages the real workers were the ground crews & flight attendants pilots etc they were they heart and function of this airline. Half of these management have no idea how much they were wasting millions everyday the airline was operating. did they care NO NO but look where it landed PAN AM grounded forever it could be still flying today if it was well maintained and running to compete with it's competitors financially. Thats my say thank you
Joe Heffernan former Ground staff LHR?LAX?JFK
--Previous Message--
: Hello everyone I have read many comments from
: this site and from the former staff about
: what happen to the Queen of the skies Pan
: Am. I am amazed how we conclude with the
: fact over it's financial woows it had from
: the 707's 747 days. Mind you Mr Trippe new
: the future of the out come but alot hasn't
: being revealed publicly for the record. Yes
: the merger or take over of National airlines
: with there rubbish Pan Am picked up along
: with the debit which also contributed
: further to Pan Am's outstanding debits
: However it boils down to the fact most of
: the aircraft wern't Pan Am's in the first
: place they belonged to banks & financial
: brokers or through Boeing who made a deal
: with Trippe which eventually caved in. Alot
: of other assets including maintence
: facilities spare parts other property's were
: leased out to the airline on long term
: bases. This also included leasing aircraft
: never paid for after the demise in 1991. I
: ask what are peoples thoughts on this or to
: add to this conversation. There's alot more
: to this then meets the eye. Many thanks
:
: Larry former PAA pilot from JFK/MIA/SFO
:
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