In 1981, American Airlines sold lifetime flying passes for $250k. It now wishes it hadn't. | Midnight Rambler |

Back in 1981, American Airlines needed cash. Interest rates were sky high, so rather than borrowing the money, they hit upon a weird idea: sell lifetime passes good for unlimited first-class air travel for $250,000. Add a companion pass for $150,000 more. The resulting program, the AAirpass, turned out to be a huge disaster