A United Coup At The Pan Am Auction

United had the last laugh in the Pan Am sweepstakes. At a bankruptcy court auction held on Dec. 9, United won Pan Am's lucrative Latin American routes with a bid of $135 million. American and Delta had teamed up for a joint bid, but Delta got only a New York-Mexico City route for $25 million. United had offered Pan Am's creditors as much as $235 million for the same routes in August.

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