Air Transport World

Continental looks to future.

Texas Air Corp. Chairman Frank Lorenzo plans to head one of the four or five big airlines that, according to many, will be the result of deregulation.

Toward that end, he took a major step last month when he filed his plan to take subsidiary Continental Airlines out of Chapter 11 bankruptcy proceedings. The Sept. 5 filing was almost exactly two years after Lorenzo shocked employees, competitors and Wall Street by declaring bankruptcy. The move, he said at the time, was necessary to save Continental's life. The unions represented at the airline at the time said, instead, it was a way of busting them and of quickly slashing labor costs.

In the intervening two years Continental has shocked people in another way. …

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