 This put it at a disadvantage against rivals operating state-of-the-art aircraft with greater passenger appeal.In September 1984 Pan American World Airways created a holding company called "Pan Am Corporation" to assume ownership and control of the airline and the services division.Given the airline's dire state, in April 1985, Acker sold Pan Am's entire Pacific Division, which consisted of 25% of its entire route system and their major hub at Tokyo Narita International Airport to United Airlines for $750 million.