Pan American union to develop proposal. (Pan American World Airways Inc.)

PR Newswire | January 15, 1991 | Copyright

PAN AMERICAN UNION TO DEVELOP PROPOSAL

WASHINGTON, Jan. 15 /PRNewswire/ -- Capt. Charles Caudle, the Pan American World Airways pilot labor representative for mergers and acquisitions, today issued the following statement regarding recent developments at the airline:

It is extremely disappointing that the Bankruptcy Court failed to give the parties any time to develop a permanent, workable solution for Pan Am involving a substantial investor.

Tracinda Corp. sold MGA-UA to Pathe Communications on Nov. 1, 1990, for $1.3 billion in cash. On Nov. ...

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