Continental's shareholders received 1.05 per share in United stock for each Continental share they owned. The companies were merged in 1982, moved to Houston, and grew into one of the country's largest carriers despite facing financial and labor issues, eventually becoming one of the more successful airlines in the United States.Ĭontinental and United Airlines merged in an $8.5 billion all-stock merger of equals on October 1, 2010. In 1981, Texas International Airlines acquired a controlling interest in Continental. Davies, "Unfortunately, the policies that had been successful for more than forty years under (Robert) Six's cavalier style of management were suddenly laid bare as the cold winds of airline deregulation changed all the rules-specifically, the balance between revenues and expenditures." However, deregulation in 1978 changed the competitive landscape and realities, as noted by Smithsonian Airline Historian R. It had ownership interests and brand partnerships with several carriers.Ĭontinental started out as one of the smaller carriers in the United States, known for its limited operations under the regulated era that provided very fine, almost fancy, service against the larger majors in important point-to-point markets, the largest of which was Chicago/Los Angeles.
Larry Kellner (former chairman and CEO)Īrchived official website at the Wayback Machine (archive index)Ĭontinental Airlines was a major United States airline founded in 1934 and eventually headquartered in Houston, Texas.Frank Lorenzo (controlling shareholder and chairman 1981-1990 of CAL or holding company).Robert Six ( chairman and CEO, 1936–81).
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