Pan Am Signs Agreement to establish The New Airline as a public company.NEW YORK--(BUSINESS WIRE)--Jan. 30, 1996--Pan Am - The New Airline today announced that a letter of intent has been signed with Frost Hanna Mergers Group, Inc. (FHMG), a publicly traded (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) company with headquarters in Boca Raton, Fla. The resulting merged entity, to be called Pan American World Airways Pan American World Airways, commonly known as Pan Am, was the principal international airline of the United States from the 1930s until its collapse in 1991. Founded as a seaplane service out of Key West, Florida, the airline became a major company credited with many , Inc., will be a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . Frost Hanna Mergers Group has available cash of approximately $10 million. "Frost Hanna's involvement helps provide Pan Am - The New Airline with the capital to pursue our goal of dominating our markets with low costs and low fares, while providing the best flying experience available," says Martin R. Shugrue, Jr., president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Pan Am - The New Airline. Announced today, Pan Am - The New Airline plans to begin domestic flights this summer, providing non-stop Airbus A-300 wide-body service between New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Los Angeles, San Francisco, Chicago and Miami, with San Juan and other destinations to be added in later phases. Pan Am - The New Airline will operate with a low cost structure, offering both first - and coach-class service with full amenities, and a simple fare structure that is traveler-friendly and easy-to-understand, with savings up to 50% from today's prices. Pan Am - The New Airline also offers WorldPass, a new fully loaded frequent flyer program This article is about airline frequent flyer programs. For the TV movie, see Frequent Flyer (film). A frequent flyer program (FFP) is a service offered by many airlines to reward customer loyalty. , and the Pan Am Alliance, an airline membership organization providing international travelers with U.S. domestic low-fare air travel and amenities clout. -0- Editor's Note: Please see today's announcement news release for the complete Pan Am - The New Airline story. CONTACT: Pan Am, New York Randy Kambic Bruce Voss 212/420-1664 |
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