After graduation from Yale, Trippe began working on Wall Street, but soon became bored. In 1922 he raised money from his old Yale classmates, selling them stock in his new airline, an air-taxi service for the rich and powerful called Long Island Airways. Once again tapping his wealthy friends from Yale, Trippe invested in an airline named Colonial Air Transport, which was awarded a new route and an airmail contract on October 7, 1925. Interested in operating to the Caribbean, Trippe created the Aviation Corporation of the Americas. Based in Florida, the company would evolve into the unofficial United States flag carrier, Pan American Airways, commonly known as Pan Am.