Pan American World Airways, Inc. - 1970's dated Aviation Bond - Very Historic Airline Company
Inv# VB5004A
Bond
Aviation Bond. Various Denominations. Very elaborate vignette of globes, eagle with spread wings, and two men. A great bond, popular and quite Rare!
Pan American World Airways, commonly known as Pan Am, was a major international airline and the unofficial flag carrier of the United States from 1927 until its dissolution on December 4, 1991. It was originally established as Pan American Airways to operate airmail and passenger services between Key West, Florida, and Havana, Cuba.
Pan Am is renowned for its many industry innovations, including pioneering the use of jet aircraft, jumbo jets, and computerized reservation systems. It was a founding member of the International Air Transport Association (IATA), which is a global industry association.
Juan Trippe founded the Aviation Corporation of the Americas (ACA) on June 2, 1927, with significant financial backing from influential figures like Cornelius Vanderbilt Whitney and W. Averell Harriman. The startup capital of $250,000 was raised through stock sales. ACA acquired American International Airways, which had been established in 1926 by John K. Montgomery and Richard B. Bevier to provide seaplane services between Key West and Havana. By October 19, 1927, ACA had launched its airmail service, initially using a Fairchild FC-2 floatplane chartered from West Indian Aerial Express, a Dominican Republic carrier.
Pan Am's legacy includes its role in shaping the international airline industry and its iconic status as a symbol of global air travel.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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