Beginning in the mid-1970s, Pan Am began facing a series of challenges both internal and external, along with rising competition from the deregulation of the airline industry in 1978. After several attempts at financial restructuring and rebranding throughout the 1980s, Pan Am gradually sold off its assets before declaring bankruptcy in 1991. By the time it ceased operations, the airline's trademark was the second most recognized worldwide, and its loss was felt among travelers and many Americans as signifying the end of the golden age of air travel. Its brand, iconography, and contributions to the industry remain well known in the 21st century. The airline's name and imagery were purchased in 1998 by railroad holding company Guilford Transportation Industries, which changed its name to Pan Am Systems and adopted Pan Am's logo.
Beginning in the mid-1970s, Pan Am began facing a series of challenges both internal and external, along with rising competition from the deregulation of the airline industry in 1978. After several attempts at financial restructuring and rebranding throughout the 1980s, Pan Am gradually sold off its assets before declaring bankruptcy in 1991. By the time it ceased operations, the airline's trademark was the second most recognized worldwide, and its loss was felt among travelers and many Americans as signifying the end of the golden age of air travel. Its brand, iconography, and contributions to the industry remain well known in the 21st century. The airline's name and imagery were purchased in 1998 by railroad holding company Guilford Transportation Industries, which changed its name to Pan Am Systems and adopted Pan Am's logo.