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More good news - this time at Continental!

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  • More good news - this time at Continental!

    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.

    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.
    Whatever is necessary, is never unwise.

  • #2
    Did I miss something? I could have sworn that America was capitalist. Hmmm. I guess not anymore.

    It isn't right for congress to be bailing out mis-mangaged airlines like this. Let the bad ones fail.

    And spare me the posts about the lost work or the lost flights, the economy always finds a way of swallowing them up. The new chp. 11 laws that go into effect Monday should help, the DL and NW filed before the rule change.
    Pop quiz: Which US president said, "Saddam Hussein has spent the better part of this decade, and much of his nation's wealth, not on providing for the Iraqi people, but on developing nuclear, chemical and biological weapons and the missiles to deliver them."
    George W. Bush is not correct. It was Bill Clinton in his 1998 State of the Union speech. HMMMMMMMMM.


    • #3
      CO has been caught up on its payments for quite some time now. They really don't need the "government bailout" allowing them more time to catch up, but they also don't want the government to allow the bankrupt guys to do it and not them, as it would give them an unfair cost advantage. And I agree with wannabepilot. Allowing UA and US to push their mistakes off on the government is complete horse crap. Make them sell their assets to pay off the debt.
      Work Right, Fly Hard.


      • #4
        I agree. The government shouldn't be bailing out companies. Waste of money.


        • #5
          US government is great at wasting money. I'm great at wasting money. Therefore, I should run for president!