The struggle to compete with budget rivals – as well as the 1973 oil crisis, a well-publicised hijacking and some devastating crashes – led to Pan Am's demise.
This increased competition didn't help long-standing carriers such as Pan American World Airways. The struggle to compete with budget rivals – as well as the 1973 oil crisis, a well-publicised hijacking and some devastating crashes – led to Pan Am's demise. The airline finally collapsed on 4 December 1991, a significant milestone in the history of commercial aviation.