Editing Pan Am (section)

====Disposal of non-core assets and operational cutbacks====
As 1980 progressed and the airline's financial situation worsened, Seawell began selling Pan Am's non-core assets. The first asset to be sold off was the airline's 50% interest in Falcon Jet Corporation in August. Later in November, Pan Am sold the Pan Am Building to the [[Metropolitan Life Insurance Company]] for {{FXConvert|USA|400|m|year=1980|index=US-GDP|cursign=$|showdate=no}}. In September 1981, Pan Am sold off its [[InterContinental]] hotel chain. Before this transaction closed, Seawell was replaced by [[C. Edward Acker]], [[Air Florida]]'s founder and ex-president, as well as a former [[Braniff International Airways|Braniff International]] [[senior management|executive]]. The combined sale value of the InterContinental chain and the Falcon Jet Corp. stake was {{FXConvert|USA|500|m|year=1981|index=US-GDP|cursign=$|showdate=no}}.<ref>{{cite news|url=http://www.time.com/time/magazine/article/0,9171,924822,00.html|archive-url=https://web.archive.org/web/20070620193442/http://www.time.com/time/magazine/article/0,9171,924822,00.html|url-status=dead|archive-date=June 20, 2007|title=Mid-Air Transfer|work=TIME Magazine|access-date=June 1, 2009|date=September 7, 1981}}</ref><ref name="National_disaster">''Aviation News (Pan American Airways: Part 2 – National acquisition)'', p. 52, Key Publishing, Stamford, November 2011</ref>

Acker followed up the asset disposal program he had inherited from his predecessor with operational cutbacks. Most prominent among these was the discontinuation of the round-the world service from October 31, 1982, when Pan Am ceased flying between [[Delhi]], Bangkok and Hong Kong due to the sector's unprofitability.<ref>{{Cite magazine|url=http://www.flightglobal.com/pdfarchive/view/1982/1982%20-%202274.html |title=More cutbacks at Pan Am |department = Air Transport|magazine =Flight International|date = October 2, 1982|page = 970 |access-date= |archive-date=January 12, 2012 |archive-url= https://web.archive.org/web/20120112203445/http://www.flightglobal.com/pdfarchive/view/1982/1982%20-%202274.html }}</ref> To provide additional seating capacity for its 1983 spring/summer season, the airline also acquired three passenger [[747-200|Boeing 747-200B]]s from [[Flying Tiger Line|Flying Tigers]], who took four of Pan Am's [[747-100]] freighters in return.<ref>{{Cite magazine|url=http://www.flightglobal.com/pdfarchive/view/1982/1982%20-%202769.html |title=Pan Am and Tigers swap aircraft|department = Air Transport|magazine =Flight International|date = December 25, 1982|page = 1795 |access-date= |archive-date=January 12, 2012 |archive-url=https://web.archive.org/web/20120112214719/http://www.flightglobal.com/pdfarchive/view/1982/1982%20-%202769.html }}</ref>