NEW YORK -- United Airlines Wednesday offered to buy the Latin American operations and other assets of bankrupt Pan American World Airways, including specific airport slots, aircraft and facilities.
The UAL Corp. subsidiary's offer covers Pan Am's authority for Latin American, Caribbean and Mexican routes, trans-Atlantic route authority from Miami and New York-France authority.
Atlanta-based Delta Air Lines confirmed last week it proposed to acquire Pan Am's hub in Frankfurt, Germany, as well as the Pan Am Shuttle and up to 45 aircraft. Delta said it would 'contemplate' offers of employment to about 6,000 of Pan Am's 22,000 personnel.
Thomas Plaskett, Pan Am's chief executive officer, is trying to sell off most of the airline's assets before it is forced to liquidate, which could be as early as this fall, the New York Times said Wednesday.
Pan Am has been operating under Chapter 11 federal bankruptcy protection from creditors since Jan. 8 and suffered major losses in passenger traffic during and in the aftermath of the Persian Gulf War.
United Chairman Stephen M. Wolf said in a letter to Plaskett that the traveling public would benefit from United's proposal, which would continue service to Latin America, Mexico and other major destinations.
'We believe that our proposal will make a very positive contribution to vital interests of key Pan Am constituencies -- Pan Am's creditors, the traveling public, certain localities in which Pan Am operations are situated and Pan Am employees,' the letter said.
United indicated it would seek to buy 21 of Pan Am's Airbus aircraft to serve acquired routes. The airline also said it plans to offer employment to 'a number' of Pan Am's employees but was no more specific than that.
Wolf said the airline believes its proposal would further the United States' international transport policy 'by assuring the vigorous presence of another major U.S. air carrier in important international air transportation markets.'
He said United was prepared to enter into negotiations toward clinching a definitive purchase agreement as soon as possible.
