Printer Friendly

CONTINENTAL AIRLINES RECEIVES APPROVAL TO PROCEED WITH AIR CANADA/AIR PARTNERS INVESTMENT AGREEMENT

 HOUSTON, Jan. 7 /PRNewswire/ -- Continental Airlines today said it received approval from the U.S. Department of Transportation for its $450 million investment agreement with Air Canada and Air Partners, L.P.
 "This approval, along with anticipated bankruptcy court approval of our reorganization plan, will permit Continental to finalize its restructuring," said Continental CEO Robert R. Ferguson, III. "We are especially appreciative that Transportation Secretary Card and the DOT acted expeditiously in granting this approval. As a result, airline competition will be enhanced, and Continental and its employees can continue improving our service product for the benefit of the traveling public."
 A Disclosure Hearing in U.S. Bankruptcy Court on Jan. 8 will deal with the adequacy of Continental's disclosure statement and does not directly relate to the reorganization plan. Also at the hearing the judge is expected to announce a confirmation date, at which time Continental expects that its reorganization plan will be confirmed and the investment transaction will close.
 -0- 1/7/93
 /CONTACT: Continental Airlines corporate communications, 713-834-5080/


CO: Continental Airlines ST: Texas IN: AIR SU:

TS -- NY053 -- 2620 01/07/93 11:33 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 7, 1993
Words:188
Previous Article:TRANS FINANCIAL'S MARKET CAP REACHES ALL-TIME HIGH
Next Article:U.S. HEALTHCARE ANNOUNCES HIGHEST MEMBERSHIP GROWTH IN SEVEN YEARS
Topics:


Related Articles
AIR CANADA AND AIR PARTNERS, L.P. MAKE OFFER TO INVEST US$400 MILLION IN CONTINENTAL AIRLINES
CONTINENTAL AIRLINES RECEIVES THIRD INVESTMENT PROPOSAL
MOTION FILED FOR APPROVAL OF PBGC/IRS SETTLEMENTS
CONTINENTAL ACCEPTS AIR CANADA/AIR PARTNERS BID
CONTINENTAL ACCEPTS AIR CANADA/AIR PARTNERS BID
BANKRUPTCY COURT APPROVES CONTINENTAL DISCLOSURE STATEMENT
UNITED AIRLINES ASKS FOR A PUBLIC REVIEW BY DOT OF AIR CANADA'S PROPOSED $450 INVESTMENT IN CONTINENTAL AIRLINES
UNITED AIRLINES ASKS FOR A PUBLIC REVIEW BY DOT OF AIR CANADA'S PROPOSED $450 INVESTMENT IN CONTINENTAL AIRLINES
CONTINENTAL AIRLINES REFUTES UNITED'S POSITION ON FOREIGN INVESTMENT
CONTINENTAL CONSUMMATES PLAN OF REORGANIZATION

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters