Pan Am cutting fares on domestic flights

Pan American World Airways announced it will cut fares up to 67 percent on all domestic flights in what is seen as a new effort to shore up the financially beset airline, which reported losses of over $217 million in the first half of this year.

An example of the fare reductions in store: The one-way first-class fare from New York to Los Angeles will drop from $670 to $369, with the economy fare cut from $473 to $224.