Final answer:
The company that began regular passenger transatlantic service with the Dixie Clipper from New York was Pan American Airways (Pan Am). The industry later saw major changes with the Airline Deregulation Act of 1978, leading to the bankruptcy of Pan Am and other airlines.
Step-by-step explanation:
Regular passenger transatlantic service began with Pan American Airways (Pan Am) when the Dixie Clipper went from New York. This marked a significant milestone in aviation history. Pan Am was known for pioneering international flight routes and became synonymous with overseas air travel since it was founded in 1927. The airline expanded rapidly, but by the late 20th century, the industry saw a significant shift.
In 1978, the Airline Deregulation Act changed the landscape of air travel by removing government control over airfares and schedules. This deregulation led to increased competition and significant changes within the industry. Famous old airlines like Pan American, Eastern, and Braniff faced financial challenges and ultimately went bankrupt. While some new airlines emerged briefly, such as People Express, they too vanished as the industry continued to evolve.