Pan Am Seeks Way out of Woods Protection, Promised Financing May Help Carrier Survive, but Not as One of the Mega-Carriers. BANKRUPTCY FILING

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THEN there were six.

The number of major United States airlines that have avoided bankruptcy slipped to six this week as Pan American Corporation filed for protection from its creditors.

The move, announced Tuesday, means that the New York-based airline - once the flagship US carrier - will join Continental and Eastern airlines in bankruptcy court. It plans to maintain a full schedule of flights. But, analysts expect pressure to mount on weak carriers as long as high jet-fuel prices and the recession continue.

In the long run, the airline industry will be dominated by mega-carriers.

"I think the consolidation will continue," says David …