On August 12, 1991 a bankrupt Pan Am sold off the last of the crown jewels. Delta essentially purchased the remaining assets of Pan Am for $416 million, assumed $389 million in liabilities, and infused PA with $80 million cash, then a second installment of $35 million. In return, Delta took the entire European operation (except for a lone Paris-Miami route), the A-310s, the New York JFK Worldport, and the profitable Shuttle. A much smaller carrier serving the U.S., Caribbean, and Latin American would remain. On December 3rd, With Pan Am continuing to hemorrhage cash, Delta decided not to pump any more money in. Many had suspected that this was Delta's plan along, strip the cream and cut it lose. In all actuality, Pan Am was hopeless. On December 4th, "The World's Most Experienced Airline" was gone. Once again, United picked from the Carcass the Latin American routes and American the Miami terminal. But with that last flight from Barbados to Miami, went the fortunes of 1000s of talented employees and Juan Trippe's "Chosen Instrument". Postlogue: Pan Am II flew in 1996-98 using A-300s on transcon flights from Miami and to Puerto Rico. After absorbing Carnival, it went bankrupt. In 1999, Pan Am III began flying successfully as a charter/scheduled carrier based in Portsmouth New Hampshire, flying 727s.