Pan Am figured it could continue to fly as a smaller carrier. But Delta, which had been covering Pan Am’s operating expenses until its reorganization plan was in place, decided that the plan would not work-and cut its losses. Pan Am, of course, isn’t alone; Eastern and Midway have also failed. Still, employees and travelers hoped Pan Am could hang on against the odds. Surviving airlines will buy the gates and routes that Pan Am leaves behind-but no one can buy the legacy of commercial air travel’s dazzling pioneer.
