Mar. 12, 1962 - Pan American World Airways signed a multimillion-dollar contract today for a worldwide electronic reservations and communications system. The airline announced that the computer system, called Panamac, would go into service a year from now. Designed by IBM, it will link 114 cities on 6 continents with the data-processing center in New York. The airline described the system as the most extensive so far that is designed for commercial transmission of data to and from a processing center. Reservations clerks in the airline’s offices all over the world will be able to book a seat on any flight and get confirmation “in a matter of seconds,” officials said. The airline said the system would cost $23 million. It will be installed on the fourth floor of the 59-story Pan Am Building now under construction over Grand Central Terminal.
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