Pan Am clipper, Vol. 3, No. 12, December 1977

              Volume 3 Number 12
October net: another record
Pan Am reported net income for October of $11.2 million, a record for any October in the company’s history. This represented an increase of $8.2 million over the October 1976 net income of $3 million.
Pan Am’s net profit for the first ten months of 1977 was $72.4 million, or $1.71 per share, a $79.3 million improvement over the 1976 loss of $6.9 million, before extraordinary items. Extraordinary items related to the exchange of debentures raised net earnings for the first ten months of 1976 to $96.0 million.
Operating revenues
No federal income taxes have been provided for 1977 as current legislation permits airlines to fully offset income taxes with available investment tax credits. Year-to-date 1977 results include a provision for foreign, state and local taxes of $4.4 million while the 1976 period had a net tax provision of $800,000.
October operating revenues were up 18.5 percent while operating expenses rose 14.9 percent, and year-to-date revenues increased 14.5 percent with operating expenses up 10 percent, compared with the same periods last year.
William T.Seawell
December 1, 1977
Pan Am's Fiftieth Anniversary year --1977 - -marked the company's return to profitability . We have done it on our own, thanks to ingenuity, hard work and concerted effort on the part of a loyal, dedicated cadre of professionals at headquarters and around the world.
We still have a long way to go to achieve solid financial strength. But our pride in a job well done in 1977 is well merited.
This is the merriest Christmas the Pan Am family has celebrated in many years . Let 1978 be the happiest New Year of the 1970s .
I send you all Season's Greetings - - with thanks.
ASTA cites Aware for efforts in travel
Peter T. Albert, Vice President-Cargo, talks about the future of Pan Am’s cargo operation in an interview with Clipper 77, page 3.
New fill-up service set in four markets
Holiday travelers in four U.S. domestic markets will have another airline to fly on as of the first of this month: Pan Am. The markets are New York-Washington, Miami-Tampa, Los Angeles-San Francisco and Portland-Seattle.
Pan Am presently operates between each of the city pairs on flights going outside the U.S. mainland.
The new service is the result of a Civil Aeronautics Board approval, on Nov. 4, of Pan Am’s application to carry domestic passengers between these points, effective Dec. 1.
Pan Am is mounting aggressive ad campaigns to promote the new authority. In addition to first class and economy fares, there is a special standby fare in all markets except between New York and Washington. Up to 50 passengers may be carried at the standby fare on each flight. In certain markets, Pan Am has the only 747 service or offers superior connections to international flights.
i Detroit-Boston
Since Nov. 11, 1976, Pan Am has carried local passengers between Boston and Detroit, the airline’s only other U.S. mainland domestic passenger market, on flights to and from London. Each flight has carried an average of 44 Boston-Detroit passengers, of which about one-third used the standby fare.
Here are the exact flights on which Pan Am will carry local traffic:
New York- Washington, Flight 541, a 707 departing JFK at 11:15 a.m. every Monday, Wednesday and Friday.
Washington-New York, Flight 66, a 747 departing Dulles Airport at 5 p.m. daily. This flight offers convenient connections through the JFK gateway to international services of Pan Am and other carriers serving New York.
Between Miami and Tampa. Daily 707 flights 551 and 552. Pan Am’s $25 standby fare is the lowest in the market.
San Francisco-Los Angeles. More 747s than any other airline. Daily Flight 515 leaving San Francisco at 7:30 a.m. is the only morning 747 to Los Angeles. Flight 516 leaving Los Angeles daily at 3:45 p.m. is the only afternoon 747 to San Francisco. Other flights are 815 to Los Angeles on Friday and Saturday, 816 to San Francisco on Wednesday and 818 to San Francisco on Sunday. Standby fare: $20 one way.
Seattle-Portland. Daily Flights 122 northbound and 123 southbound offer a standby fare of $20, the lowest available.
The CAB has tentatively granted Pan Am fill-up authority between Dallas-Fort Worth and New York, but has not yet finalized the award.
The American Society of Travel Agents has presented the Pan Am Employee Aware Committee its Presidential Citation, the first time the award has ever gone to a group of employees.
Aware was cited for its “unique efforts in strengthening Pan Am’s bonds with the travel industry and the traveling public.”
James A. Miller, president-chairman of the board of ASTA, made the presentation at the recent ASTA World Congress in Madrid. This year, the Aware employees, who have been represented at the ASTA convention for the past four years, for the first time had a booth at the trade show at the convention. Fourteen employees from all over the world manned the booth, which became a favorite spot for travel agents who were each presented complimentary 1978 Aware calendars and a special certificate of appreciation from Pan Am employees.
Dedication and sincerity
The ASTA Presidential Citation is awarded from time to time for achievements in the promotion of the travel industry.
In making the presentation, Miller said the efforts of the Pan Am Employee Aware Committee
“have had great impact on the travel industry. The dedication and sincerity of these employee volunteers have won great recognition and respect for Pan Am people everywhere and have greatly strengthened the bonds between Pan Am and the American Society of Travel Agents.”
In addition to the booth, the 14 volunteer representatives appeared in a full page ad in the ASTA daily newspaper to say “thank you” to the members of ASTA for their support of Pan Am and its employees.
Employees attending the convention were Ali Emec, terminal services, Istanbul; Anna Lee, ticket agent, Hong Kong; Carlos Boubet, Passenger Services, Montevideo; Robert Knowles, maintenance, New York; Mary Minasian, secretary, Boston; Felicia Fairchild, flight attendant, New York; Sorut Tepuachaintara, cargo agent, Bangkok; Bhaskar Saigal, sales agent, New Delhi; Mary Williams, reservations agent, Rio de Janeiro; Joe Akech, accountant, Nairobi; Barbara Crusius, flight attendant, Berlin; Danilo Regnier, passenger services, Guatemala; Jody Thompson, flight attendant, Hbnolulu; Reginald Joseph, maintenance, New York.
Felicia Fairchild, chairman of the Aware executive committee, pins James H. Miller, president and chairman of the board of the American Society of Travel Agents, making him an honorary member of Aware. Earlier, Miller presented the Aware employees with ASTA’s Presidential Citation for their efforts in strengthening Pan Am’s bonds with the travel industry and traveling public. Both presentations were made at the recent ASTA convention in Madrid. Aware representatives from around the world look on.