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Continental Airlines Inc. said Monday it has paid another $84 million into its defined-benefit pension plans, bringing this year's contributions to $304 million.
The latest payment means the Houston-based carrier has met its minimum required contribution for the year, Continental said.
The payment "demonstrates that we are working hard to fulfill our obligations and keep our promises to employees," Chairman and CEO Larry Kellner said in a prepared statement.
Continental, the nation's No. 5 carrier, and Fort Worth-based American Airlines, the largest, have been seeking more time to make required pension contributions.
They objected to a bill in the U.S. Senate that would have given Delta Air Lines Inc. and Northwest Airlines Corp., both of which have filed for bankruptcy protection, more time to make pension contributions.
Last week, key senators agreed to add Continental and AMR Corp.'s American to the relief measure, although the legislation's fate is still unclear because of questions about the House version of the bill.
http://www.rednova.com/news/technolo...e=r_technology
The latest payment means the Houston-based carrier has met its minimum required contribution for the year, Continental said.
The payment "demonstrates that we are working hard to fulfill our obligations and keep our promises to employees," Chairman and CEO Larry Kellner said in a prepared statement.
Continental, the nation's No. 5 carrier, and Fort Worth-based American Airlines, the largest, have been seeking more time to make required pension contributions.
They objected to a bill in the U.S. Senate that would have given Delta Air Lines Inc. and Northwest Airlines Corp., both of which have filed for bankruptcy protection, more time to make pension contributions.
Last week, key senators agreed to add Continental and AMR Corp.'s American to the relief measure, although the legislation's fate is still unclear because of questions about the House version of the bill.
http://www.rednova.com/news/technolo...e=r_technology
Well done Continental! I think that it is great that they are making efforts to help their employees. I know that the other airlines are struggling, but I hope that if they were in the same profitable sittutation they would attempt to do the same. Anyway, still good news, and it shows that the airlines are not as cold nad heartless as people think.
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