Many debate over using brand new aircraft to start a new carrier or preowned aircraft. I tend to agree with the Pan Am and it's beliefe that preowned are the best way to go. While new aircraft require alot less maintenence and are much more fuel efficient they are however much more COSTLY To purchase, for the purchase price of a new 767-400ER or 777ER we are talking about $ 149 to $169 million in bank loans, even at a very good loan rate the airline is now heavily in debt to the banks. As we can plainly see today, airlnes owe way to much in bank loans! So while preowned aircraft require much more maintenence and consume much more petrol they are a much better investment for a start-up carrier. Pan Am has been able to a mass a fleet of 22 727-200Adv aircraft at a average cost of $ 1 to 4 million per aircraft or shall we say less than ONE NEW Boeing 757-200ER the aircraft most likely to suceed Pan Am's 727-200Adv fleet of aircraft in the very near future. And while Pan Am will probably aquire either the DC-10 or the L1011 as their first widebody aircraft please remember that these can be obtained for arround $ 7-10 million VRS the sticker price of $ 149-$169 for the 767-400ER there is no way you can spend$ 139 million in extra petrol costs or extra flight attendents costs or extra maintence costs etc.And while Pan Am modernizes it's widebody fleet to most probably to the 767 to keep it within the 757/767 family of aircraft the will have the option of using the L1011 or DC10 as CHARTER or to implement them into their CARGO division!