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Companies that vanished: Pan Am, cultural icon

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This post is part of a series on some of the most memorable companies that have disappeared.

Pan American World Airways, or Pan Am, was an international airline that was in business from 1927 through 1991, when it ceased its operations after over a decade of mounting financial losses and having to declare for bankruptcy.

The company, despite being defunct for seventeen years, is still well remembered in pop culture. The blue circular logo has made such an impression that it is put on designer travel bags to signify traveling in luxury today.

Beyond that, Pan Am will always be remembered as the airline that brought the Beatles to New York City in 1964, as well as the airline that con man Frank Abagnale, Jr., passed himself off as a pilot for, which was later immortalized in the 2002 film Catch Me If You Can.

Pan Am was featured prominently in a number of other films. One of the most notable appearances was the Pan Am "space clipper" in Stanley Kubrick's science fiction masterpiece 2001: A Space Odyssey. The Pan Am brand was also displayed in the movie Blade Runner, and the company is said to be one of many, along with Atari, Cuisinart, and others, that suffered from the "Blade Runner curse" -- companies whose logos were featured in the movie experienced disasters and have since gone defunct.

Unfortunately, there is also one infamous incident for which Pan Am will be remembered: Pan Am Flight 103. The transatlantic flight from London's Heathrow airport to New York's JFK airport on December 21, 1988 was destroyed by a bomb as it flew over the UK, killing 270 people. The tragic event led to Britain's largest criminal inquiry and marked the beginning of the end for the iconic airline. The airline, which was still facing financial difficulties from the energy crisis a decade earlier, had already suffered a terrorist attack in 1986, the hijacking of Pan Am Flight 73 in Pakistan, which resulted in 20 deaths. The combination of both terrorist events in such a short span of time made consumers wary of the once pristine company.

Pan Am declared bankruptcy on January 8, 1991, and its profitable remains were bought out by Delta Air Lines (NYSE: DAL). Then, later that year, on December 4, operations of the airline ceased. What most people will remember and miss about Pan Am is the nostalgic and timeless feel of traveling in style and luxury, when just the taking of a flight itself was an event. That, and the stewardesses' pearly Pan Am smiles.

Let us know in the comments what you miss about Pan Am. And be sure to check out other Companies That Have Vanished.

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Last updated: November 14, 2009: 08:41 PM

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