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Continental Airlines emerged from bankruptcy.

September 03, 1986

The Houston-based carrier began the first installment on about $925 million owed to creditors, a company spokesman said. Continental will pay nearly $140 million within 10 days in the first stage of a reorganization plan approved this summer by a federal judge, Continental spokesman Bruce Hicks said. The remaining debt will be paid within 10 years, he said. The airline filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code in September, 1983.

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