 In an era dominated by flag carriers that were wholly or majority government-owned, it was also the unofficial overseas flag carrier of the United States.During most of the jet era, Pan Am's flagship terminal was the Worldport located at John F. Kennedy International Airport in New York City.Pan American Airways, Incorporated (PAA) was founded as a shell company on March 14, 1927 by Air Corps Majors Henry H. "Hap" Arnold, Carl A. Spaatz, and John H. Jouett as a counterbalance to the German-owned Colombian carrier SCADTA, operating in Colombia since 1920.