Pan Am Warns Unions It Might Auction Assets;Teamsters Cool to Airline's Push for Concessions

The Washington Post | June 9, 1988| | Copyright

Pan Am Corp. threatened yesterday to auction off its planes, routes and terminals unless concessions can be reached with its three largest unions.

In a letter to Pan Am's workers, chairman Thomas G. Plaskett said management's first steps to pare down Pan American World Airways would include terminating leases on aircraft, closing a large San Francisco flight service base on Oct. 1, and scaling back operations in the fourth quarter beyond the levels to which they normally are reduced after the peak summer travel season. In the long run, the whole airline might be sold off, the letter said.

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