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Airlines

April 17, 1993|From Times Staff and Wire Reports

Continental Air Reorganization Plan OKd: The decision paves the way for Continental Airlines to emerge from nearly 2 1/2 years of Chapter 11 bankruptcy court protection. The reorganization includes a $450-million cash infusion by Air Canada and a Texas investment group, in return for an ownership stake in the Houston-based carrier. Continental expects to leave bankruptcy court officially by the end of the month.

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