Pan Am, which expects to close its acquisition of Carnival Air Lines in September, has posted a a net loss of $17 million during the second quarter of 1997, blaming unexpectedly weak traffic. In the deal announced in March, Pan Am will acquire Carnival's underutilised fleet of 21 aircraft, including Boeing 727s and 737s. The stock-trade transaction matches Pan Am's small Airbus A300 transcontinental operations with Carnival's much larger leisure network.
Source: Flight International