Pan Am, the iconic airline that revolutionized the aviation industry, is making a comeback under new ownership. In 2024, Steven Craig, the founder of Craig Realty Group, along with three other partners, acquired Pan American Global Holdings LLC from its previous owner, Timothy Mellon. Since then, the new owners have been working on various business ventures to revive the company and make it profitable again, including designing Pan Am airport lounges and building a Pan Am hotel.
The new owners, which include Pan Am Chief Executive Craig Carter, Jeff Cova, and Talaat Captan, are not just focused on branding deals, but also on reviving the airline itself. To achieve this, Pan Am has partnered with consulting firm AVi8 Air Capital to develop a financial strategy for resuming commercial flights. In October, the companies revealed a business plan that would allow Pan American World Airways to operate as a scheduled charter service. The airline has also filed with the Federal Aviation Administration (FAA) as a U. S. part 121 flag carrier to do so. Once approved, Pan Am will manage flight operations out of Miami and start flying a fleet of Airbus commercial aircraft. The parent company will remain headquartered in Newport Beach, California.
In addition to the airline, the new owners are also looking to revive the iconic Pan Am brand through various licensing deals. They have already partnered with luxury apparel manufacturers to recreate the famous blue flight attendant and pilot uniforms. Other licensing deals include partnerships with watchmakers, a 28-day cruise to celebrate Pan Am’s 100th anniversary, and an apparel and accessories line with Malibu Shirts featuring the Pan Am logo and imagery.
The new owners are also creating profitable business divisions to allow modern consumers to experience the Pan Am brand in person. This includes Pan Am Journeys, a travel organization that hosts international trips recreating Pan Am’s historic flights. The company plans to expand its routes in the future. Pan Am Travel, a full-service travel agency for corporate group travelers, has also been launched. The owners are also converting a former office building in City of Commerce, California into a Pan Am Hotel, which is set to open in 2026. The company is also planning to set up luxury lounges in airports across the U. S. and a fixed-based operator (FBO) in St. Joseph, Missouri.
Pan Am was established in 1927 by Juan Trippe and became known for its international flights, particularly its famous Clippers that landed and took off on water. The airline set a standard for class, technology, and worldwide travel. However, it ceased operations in 1991 after facing multiple challenges, including deregulation of the industry and the bombing of Pan Am Flight 103. After being owned by Carnival Cruise Line, billionaire Tim Mellon purchased the company in 1998 for $28. 5 million.
The idea to revive Pan Am first came about when Craig Carter, CEO of Luxe Travel Management, met Talaat Capt