AVIATION: Panagra War (Cont'd)
The civil war between W. R. Grace & Co. and Pan American Airways over the big South American airline they own jointly (TIME, March 16) got hotter last week. Grace has now asked the Civil Aeronautics Board to force Pan Am to sell or trustee enough of its stock in Panagra to give Grace clear-cut control.
Grace's 13-page petition bristled with charges. Main one: Pan Am is suppressing the growth of Panagra because it wants to keep Panagra as an auxiliary, feeding passengers and freight from the eight South American countries it serves to Pan Am lines. Grace wants to make Panagra a self-contained airline, with its own terminal facilities in the U.S. (preferably at New Orleans).
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