Pan American World Airways (Pan Am) was at one time the principal international
US-based airline. The
Lockerbie disaster in
1988 exacerbated the company's financial problems and it was forced to sell off many of its aircraft and international routes to its competitors. The company finally collapsed in
1991. An attempt was made to revive the company in the late
1990s, but the new Pan Am ultimately ended up facing bankruptcy again and the name was sold in
1998. The current owners of the Pan Am brand operate a small number of flights within the
continental United States.
On January 6, 1942 Pan American became the first commercial airline to have a flight that went around the world.