ABSTRACT
Pan American Airways were organised in 1927; in 1929 they joined W. R. Grace and Company, operating steamships on the west coast of South America, and formed Pan American Grace Airways. At the time several other United States concerns were operating in Central and South America. In view of the part played by Pan American Airways in developing American air transport overseas, a more detailed study of the structure of the enterprise may be of value. The whole system is controlled by a holding company, ran American Airways Corporation. Latin American subsidiaries have been to some extent subsidised by the parent organisation, in return for which the ground facilities of local companies have been made available. Pan American also led in the development of trans-Atlantic services. It co-operated with Imperial Airways in starting the service between the United States and Bermuda, and in 1937 obtained exclusive landing rights from Portugal.
