LYCOS RETRIEVER 
Continental Airlines: Boeing Company
built 630 days ago
In July, Continental signed an agreement for the sale of 10 Boeing 737-500 aircraft to Russian-based TRANSAERO Airlines. The aircraft are scheduled to be removed from the fleet from October 2007 through November 2008. Continental is in discussions with another foreign entity regarding the sale of an additional five Boeing 737-500 aircraft for delivery during the same time period. In addition, Continental moved forward to 2008, three 737-900ER aircraft originally scheduled for delivery in 2009.
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Entering the 1960s, Continental was enjoying a period of relatively good prosperity. In early 1961, a group of bankers in charge of the now financially troubled TWA approached Six with a lucrative offer to become the company's president. When he turned them down, making clear his loyalty to Continental, the group began making offers to merge the two companies. Six still refused, stating that a merger was not in the company's best interest at that time. Therefore, it was somewhat of a surprise later that year when Six and Ted Baker of National Airlines announced a merger of their two companies. The merger... was quickly canceled when Six found out that Baker also had secretly negotiated the sale of National to Maytag's Frontier Airlines.
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Continental believes every customer deserves a comfortable and relaxing trip. Economy class customers on transatlantic flights enjoy a variety of entertainment options. Their wide-bodied Boeing 777 and 767's offer individual seatback TV's, featuring up to 13 of the latest run movies including a Disney channel, music and video games, plus individual satellite telephones. PC power ports are available in the first 6 rows too. Enjoy a choice of appetising entrée selections including a children's menu and special meal requirements, with complimentary soft drinks. Sit back and relax perusing the Continental Collection brochure with quality duty-free and gift items.
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Later that year, Continental suffered a blow to its management team, as Harding Lawrence left the company to accept a position as president of Braniff Airlines. Initially, no attempt was made to replace him. A year later... Six brought aboard Pierre Salinger, the late President Kennedy's press secretary, as a member of Continental's board of directors.
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Continental embarked on an ambitious program to expand its international operations. In 1998 it launched flights to Ireland and Scotland, and in October 1998 the airline received its first Boeing 777 aircraft, allowing non-stop flights from Newark and Houston to Tokyo, Japan and from Newark to Tel Aviv, Israel. Continental in the same year launched partnerships with Northwest Airlines, Copa, Avant Airlines, Transbrasil, and Cape Air, and Continental and America West Airlines became the first two US airlines to launch interline electronic ticketing.
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Continental contributed $30 million to its pension plans during the quarter. The company contributed an additional $75 million to its plans in July, bringing its year-to-date pension contributions to $211 million, which significantly exceeds minimum funding requirements for those periods. Continental currently expects to contribute more than $325 million to its plans in 2007, significantly exceeding its minimum funding requirements of $187 million for the calendar year.
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