Actually I think one of the pilots does wear a Rolex GMT Master (or a good copy of one). If memory serves, Pan American Airlines struck a deal with Rolex in the late 1950s or very early 1960s to supply their pilots with that specific watch. The reason was that Pan Am was expanding internationally and its pilots and navigators needed watches that were capable of indicating GMT. The researchers on the show did a really good job of getting the facts straight.

I noticed the watch in only a couple of episodes and then the storyline had the pilot sell his watch to get one of the stewardesses out of a tight spot.

Respectfully,
Fifty Fathoms