September 1996 two, an Airbus 300 named Clipper Fairwind reintroduced scheduled service from Miami to new York. Within the year Pan Am added Santo Domingo, San Juan and Chicago destinations using five jets.

Pan Am merged with Carnival Airlines which resulted in service and quality deterioration. 

In 1998 the second Pan Am declared bankruptcy and the remains of Pan Am were sold to Guilford Transportation.

Marty Schugrue started as a pilot with Pan Am.  When furloughed he joined the Pan Am management team.  He struggled to keep Pan Am afloat as the Vice Chairman.  After its fall Marty was a founder of the Second Pan Am.  Marty died one year after the fall of the Second Pan Am.

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