Run for the Money

Pan American World Airways landed a prize it had long been angling for--the right to fly passengers to Paris and Rome (it now goes to London and Frankfurt). The prize was part of a circuit court of appeals decision last week approving Pan Am's purchase of American Overseas Airlines for $17.5 million (TIME, July 24).

Another result: Trans World Airlines, which long had battled the merger, finally gave up, mollified by CAB permission to fly to London and Frankfurt. Said T.W.A. Chairman Warren Lee Pierson: "The court has spoken. T.W.A. intends to say it with service."

Pan Am will also have something to say. In competition with T.W.A.'s 19 Constellations and five DC-4s on the transatlantic run, Pan Am already has 23 four-engined aircraft flying to Europe. With the A.O.A. merger, Pan Am will take over 17 more four-engined planes.

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