SEPTEMBER 13
5. SVs Chairman of Pan Am, Edward Acker, speaking. (SOT) (3 SHOTS) 2.04
TRANSCRIPT:
ACKER: (SEQ 5) "The agreement calls for the acquisition of twelve A310-series 300 aircraft and sixteen A320-200 standard-body aircraft. Deliveries would start mid-year 1987 and 1990. We would also have flexibility to interchange models with the scope of the 28 aircraft that are to be acquired. The current value of the order is approximately one billion and, of course, that's subject to escalation. Financing will be through normal commercial channels and will not involve export credit. If requested by Pan Am, Airbus, under certain circumstances, will provide a guarantee in connection with the financing. Pan Am will also obtain options for up to 13 additional A310-300s and thirty-four A320-200s."
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Background: NEW YORK, USA

Pan American World Airways announced on September 13 that it will lease, buy and have option purchase on 91 European Airbus aircraft. The deal, worth at least one billion dollars, was announced in New York by Edward Acker, the Chairman of Pan Am. The airline will acquire twelve A310-300 widebody and sixteen A320-200 standard body jetliners between 1987 and 1990. Pan Am will have an option to buy another 47 jets and will lease 16 Airbuses until the new aircrafts are built. Acker said the aircraft provide the best cost efficiency, passenger comfort and avionics in the industry. Pan Am is the first U.S. airline to select the Airbus. On September 14 European planemakers Airbus Industrie said they were holding talks with other airlines on the sale of the Airbus, but the Pan Am deal signalled a major breakthrough for the four-nation consortium int he key U.S. market dominated by Boeing, McDonnell Douglas and Lockheed. Earlier this year the Airbus company was wondering what to do with 24 unsold aircraft.

Source: REUTERS, NEW YORK

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