November 9, 1992 |
Continental Airlines to Announce Winning Bidder: Continental Airlines Holdings Inc. is expected today to say which of two rival bidders will liberate its troubled operations from nearly two years of federal bankruptcy proceedings. Air Canada with Texas investors Air Partners L. P. offered $425 million for Continental, while Maxxam Inc. together with Aeromexico offered $400 million. The Houston Post quoted sources Sunday as saying that both bids have been raised to around $450 million.
October 27, 1994
Robert R. Ferguson III, who led Continental Airlines through a bankruptcy reorganization and then spearheaded the airline's low-fare CALite service that began a year ago, resigned Tuesday as the carrier's chief executive and vice chairman. The 45-year-old Ferguson, chief executive since mid-1991, said he will remain a Continental director but wants to "explore other career challenges." He also was named a principal at Air Partners L.P., the investor group that is Continental's major stockholder.