 Home > About Continental > History > 1991 to 2000
February 12, 1991
Continental unveiled its new blue and grey identity.
October 1992
Launched award-winning BusinessFirst service on transoceanic flights.
April 27, 1993
Air Partners/ Air Canada invested $450 million in Continental in November 1992, leading to second bankruptcy emergence.
May 12, 1993
With view toward the future, Continental placed an order for 92 new Boeing aircraft including 737s, 757s, 767s, and 777s.
July 15, 1994
Commemorated 60th. anniversary of service.
January 1995
Continental President and CEO Gordon Bethune unveiled the four-point Go Forward Plan designed to improve Continental’s operational performance and working environment for employees and achieve sustained profitability.
The Go Forward Plan:
- Fly To Win
- Fund The Future
- Make Reliability a Reality
- Working Together
March 1995
Continental had the number one domestic on-time performance among the ten largest U.S. airlines for the first time since the Department of Transportation* began its Consumer Report in September 1987. In April Continental repeated as on-time Champion.
May 1995
Greg Brenneman was named chief operating officer and joined Continental’s board of directors.
July 18, 1995
Continental announced the largest quarterly profit in its history.
August 1995 - November 1995
Continental placed number one in domestic baggage handling among the 10 largest U.S. air carriers on the Department of Transportation's monthly Air Travel Consumer Report for four consecutive months.
December 1995
Business Week Magazine named Continental the Best NYSE Stock for the year. Continental’s Class B Common Stock had risen from a low of $6.50 per share in early January to a high of $47.50 in December.
December 1995
Continental closed out 1995 with the largest annual profit in it's 61-year history ($224 million). In addition, for the fourth quarter of 1995, the airline ranked #1 in on-time performance, #1 in baggage** handling and #2 in the least complaints.
January 1996
Continental launched the 1996 Go Forward Plan designed to continue the momentum of one of the greatest corporate turnarounds of the 20th century.
January 1996
Announced largest annual profit ($224 million) in 61-year history.
June 1996
Received J.D. Power Award for Best Airline on flights of 500 miles or more.
January 1997
Named Air Transport World Airline of the Year for 1996.
May 1997
Became first airline ever to receive back-to-back J.D. Power Awards for Best Airline on Flights of 500 miles or more.
June 1997
Announced intention to purchase 35 new widebody Boeing aircraft including 777s and 767s.
July 1997
Launched first flights ever to Brazil.
September 1997
Announced plan to consolidate Houston Headquarters into downtown Houston - Continental Center.
January 1998
Announced all-time record annual profit of $640 million for 1997. Announced plan to form a strategic global alliance with Northwest Airlines.
March 1998
Announced intention to purchase 15 Next Generation Boeing 737-900 aircraft, making Continental the largest carrier to add the aircraft to its fleet.
April 1998
National Airline Quality Rating ranked Continental as the most-improved airline for the second year in a row.
June 1998
Launched first flights ever to Ireland.
July 1998
Launched first flights ever to Scotland.
August 1998
Results of J.D. Power Customer Satisfaction Study ranked Continental highest in many critical categories despite overall second place ranking.
October 1998
Received first Boeing 777 aircraft and prepared for nonstop service to Tokyo from Newark and Houston.
November 20, 1998
Continental Airlines and Northwest Airlines formally announced their alliance to enhance competition and improve consumer travel options. Key benefits to consumers include code-sharing on domestic and international routes, reciprocity of frequent flyer programs and shared airport lounges. The alliance created a fourth major U.S. airline network competitive with "The Big Three" U.S.-based airlines.
Continental announced an order for 10 Boeing 767-200 extended range aircraft to be used on international markets in Europe and South America. Delivery will start in the year 2000.
December 16, 1998
Continental formed a cooperative marketing alliance with Avant Airlines based in Santiago, Chile.
December 21, 1998
Continental was named one of the "100 Best Companies to Work for in America" by FORTUNE magazine in a study conducted in conjunction with the Great Place to Work Institute of San Francisco.
December 29, 1998
Continental and Northwest begin code-sharing on 28 weekly international flights between the U.S. and Japan, and 21 weekly flights to Singapore, Bangkok, Thailand and Seoul, Korea.
January 7, 1999
Continental and Northwest began code-sharing on domestic flights.
January 20, 1999
Continental Airlines claimed seven awards in the "OAG Airline of the Year Awards," rating as the best U.S. airline in voting by frequent flyers who subscribe to OAG print and electronic travel information services.
January 21, 1999
Continental reported its 15th consecutive profitable quarter and ended the year on a high note. The company announced an all-time record annual pre-tax profit for 1998 of $770 million, exclusive of previously announced fleet charges. This was the fourth consecutive year of record pre-tax profits at Continental. The company posted fourth quarter 1998 net income of $66 million.
January 28, 1999
Continental Airlines' frequent flyer program, OnePass, swept the prestigious Freddie Awards, garnering five awards including top recognition for "Program of the Year" and "Best Elite-Level Program." During InsideFlyer's 11th Annual Freddie Awards ceremony, the OnePass program also was honored with the "Best Award" in recognition of its BusinessFirst international upgrades, as well as "Best Customer Service" and "Best Website" for 1998.
January 31, 1999
Launched daily nonstop service from Houston to Tokyo, Japan. This is the first nonstop flight from Houston to Asia.
March 2, 1999
Retired the last Boeing 747-200 and last Boeing 737-200. Continental removed the aircraft to make room for 60 more-efficient Boeing jets being put into service in 1999.
March 10, 1999
For the second year, Continental won the Gold Award as "Top Airline to North America" in the 1999 European Travel Awards, presented by Travel Trade Gazette Europa.
April 2, 1999
Completed a successful airborne Year 2000 (Y2K) test of its aircraft communications system. Continental was the first commercial airline to fly an aircraft in a simulated Y2K environment.
April 8, 1999
Gordon Bethune is named as one of the 50 best CEOs in America by Worth magazine. Gordon ranked sixth among the business executives.
April 10, 1999
Continental and Alaska Airlines began code-sharing flights.
April 15, 1999
Continental Airlines reported its 16th consecutive profitable quarter with a first quarter net income of $78 million ($1.03 diluted earnings per share), excluding non-recurring gains and charges.
May 4, 1999
Continental Airlines changed the stock symbol for its class B common stock from CAI.B to CAL, and changed the symbol for its class A common stock from CAI.A to CAL.A.
May 11, 1999
Ranked as the nation's No. 1 major airline in customer satisfaction for long-distance (500 or more miles) flights in a study by Frequent Flyer magazine and J.D. Power and Associates.
May 18, 1999
Continental Airlines announced that Kirbyjon H. Caldwell was elected to its board of directors. He replaced former U.S. Sen. Lloyd Bentsen, who declined to stand for re-election for personal reasons.
May 26, 1999
For the second year, Continental was named as having the best Transatlantic Business Class and Best Transpacific Business Class of all U.S. airlines in Cond Nast Traveler's Business Travel Awards.
May 28, 1999
Continental’s Web site (www.continental.com) ranked No.1 in customer satisfaction and loyalty by NPD Online Research, a division of The NPD Group.
June 10, 1999
Continental and Copa Airlines began code-sharing on more than 60 flights to 30 destinations.
July 19, 1999
Continental reported its 17th consecutive profitable quarter with second quarter net income of $137 million.
August 1, 1999
Daily nonstop service between New York and Tel Aviv was launched by Continental.
September 20, 1999
Deborah McCoy was named Continental’s senior vice president of Flight Operations. McCoy is the first woman in the nation to head a major commercial airline pilot group.
October 4, 1999
Continental signs on as corporate sponsor for NYC2000, and announces plans to celebrate with a Peter Max-painted jumbo jet.
October 14, 1999
Continental Airlines ranked as the No. 2 most admired global airline by Fortune magazine in the publication's "World's Most Admired Companies" list, published in the October 11 issue.
October 14, 1999
Continental Airlines and America West Airlines became the first two U.S. airlines to implement interline e-Ticketing.
October 15, 1999
Continental Airlines Executive Vice President and Chief Financial Officer Larry Kellner was named winner of the 1999 CFO Excellence Award for Turnaround Management by CFO magazine and Arthur Andersen.
October 18, 1999
Continental Airlines reported its 18th consecutive profitable quarter with third quarter net income of $110 million ($1.56 basic and $1.53 diluted earnings per share).
November 29, 1999
Continental Airlines increased the size of its stock repurchase program by $400 million, bringing the total current size of the program to $1.2 billion, as a result of the sale of its interest in Amadeus Global Travel Distribution S.A. Its Board of Directors also authorized it to use up to one-half of its 2000 and later adjusted net income, and all of the net proceeds of future sales of non-strategic assets, for additional stock repurchases.
December 13, 1999
The jet fleet of Continental becomes the youngest among the 10 largest US airlines, with an average jet fleet age of 7.4 years.
December 15, 1999
Continental Airlines implemented its Customer First program and fine-tuned customer service policies, established new functions and provided training to thousands of staff.
December 20, 1999
For the second year in a row, Continental Airlines was named one of the "100 Best Companies to Work For in America" by FORTUNE magazine in a study conducted in conjunction with the Great Place to Work Institute of San Francisco. Continental jumped to No. 23 on the list from last year's ranking at No. 40.
December 30, 1999
Continental Airlines acquired a minority ownership stake in the privately held Florida-based regional carrier Gulfstream International Airlines.
January 1, 2000
Continental successfully completes the Year 2000 rollover.
January 18, 2000
Continental Airlines reported fourth quarter net income of $33 million ($0.48 basic and $0.47 diluted earnings per share), exclusive of previously announced gains and charges.
January, 26, 2000
Continental won two awards at the 2000 OAG Airline of the Year Awards and was the only U.S. carrier to win an OAG award. Continental won Best Short Haul Executive/Business Class and Best Frequent Flyer Program.
January 27, 2000
Continental Airlines OnePass frequent flyer program garnered four of the top Freddie Awards, including "Program of the Year" and "Best Elite-Level Program," during InsideFlyer's 12th Annual Freddie Awards ceremony. The OnePass program also received the "Best Award" in recognition of its 25,000-mile reward from New York or Houston to Tokyo, as well as "Best Website" for 1999. Continental finished in the top three in every other category for which it was eligible.
January 28, 2000
The municipal bond financing for the first phase of Continental Airlines' Global Gateway Program was cited by Institutional Investor magazine in its January 2000 issue as one of four Public Finance Deals of the Year for 1999. The transaction, at $730 million, was the largest non-investment grade municipal bond financing ever completed.
February 17, 2000
Continental Airlines was named the No. 2 Most Admired U.S. Airline by FORTUNE magazine in its "America's Most Admired Companies" list, published in the Feb. 21, 2000, issue. Continental moved up one position from its No. 3 ranking in 1999.
April 20, 2000
Continental Airlines reported first quarter net income of $14 million ($0.21 basic and diluted earnings per share).
May 9, 2000
Continental Airlines was ranked as the nation's No. 1 airline in customer satisfaction for both short-distance and long-distance flights in an independent study conducted by Frequent Flyer magazine in conjunction with J.D. Power and Associates.
June 19, 2000
Continental Airlines Chairman and Chief Executive Officer Gordon Bethune called for relaxation of restrictions on foreign ownership of U.S. airlines as the aviation industry faced a potential new round of consolidation. Bethune also pressed Continental’s case for entry into Heathrow.
July 18, 2000
Continental Airlines reported record quarterly diluted earnings per share of $2.46, before extraordinary charges. This marked the 21st consecutive profitable quarter and the highest diluted earnings per share in company history.
July 25, 2000
Continental Airlines signed new five-year employment agreements with the carrier. The agreements were signed with Chairman and Chief Executive Officer Gordon Bethune, President and Chief Operating Officer Greg Brenneman, Executive Vice President and Chief Financial Officer Larry Kellner, Executive Vice President - Operations C.D. McLean, and Executive Vice President and General Counsel Jeff Smisek.
August 30, 2000
Continental Airlines took delivery of its first Boeing 767-400ER (extended range) aircraft. It was piloted to Houston by the airline's chairman and CEO, Gordon Bethune, a licensed commercial jet pilot and aircraft mechanic.
September 12, 2000
Continental Airlines increased the size of its stock repurchase program by the amount of cash proceeds paid from and after Jan. 1, 2000 to the company from purchases of common stock by employees and other participants under the company's employee stock purchase and stock option plans. Since the beginning of the year, these amounts totaled approximately $80 million.
September 21, 2000
Continental Airlines ranked the No. 1 innovative user of information technology among all airlines, according to the recently released InformationWeek 500 list. The airline ranked No. 25 out of 500 companies on the 12th annual list, coming in first among all carriers.
September 26, 2000
Continental Airlines was named the top U.S.-based global carrier in Fortune magazine's "World's Most Admired Companies" list. Continental ranked No. 3 overall in the Global Most Admired Airlines category published in the October 2 issue.
October 6, 2000
Continental Airlines' Executive Vice President and Chief Financial Officer Larry Kellner was awarded the 2000 CFO Excellence Award in the Information/Knowledge Management category, making him the first three-time winner in the history of the awards, sponsored by CFO magazine and Arthur Andersen.
October 11, 2000
Continental Airlines and Northwest Airlines launched the world's largest interline eTicket network.
October 16, 2000
Continental Airlines reported third quarter diluted earnings per share of $2.24 (before an extraordinary charge) a 56 percent increase over the same period in 1999. This marked the 22nd consecutive profitable quarter for Continental, and the highest third quarter earnings per share in company history.
October 30, 2000
Continental Airlines' Chairman and CEO Gordon Bethune and Houston Mayor Lee Brown broke ground on a new $350 million expansion project, including a state-of-the-art international terminal, at Bush Intercontinental Airport (IAH). Terminal E, to open summer of 2003, will be the single largest facility expansion at IAH in 20 years. It also will be the first new terminal to be built on the airport since Terminal D (the Mickey Leland International Airlines Building) opened in 1990.
November 6, 2000
Continental Airlines and Northwest Airlines announced that the two airlines had reached an agreement in principle regarding the sale to Continental of its common stock held by Northwest Airlines.
November 6, 2000
Continental Airlines announced that it priced $250 million of convertible preferred securities of an affiliated special purpose trust, convertible into Continental Class B common stock maturing in 2030. The securities will pay cash distributions at an annual rate of 6 percent of their $50 per security liquidation amount, and will be convertible at the initial rate of 0.8333 shares of common stock for each security (equivalent to an initial conversion price of $60 per share of common stock). The Company granted the initial purchasers a 30-day overallotment option on an additional $37.5 million of the securities on the same terms.
November 10, 2000
Continental Airlines took delivery of its first 767-200ER aircraft.
November 16, 2000
Continental Airlines and Northwest Airlines executed definitive agreements regarding the sale to Continental of its common stock held by Northwest Airlines, and an extension of their alliance agreement through 2025. The boards of both airlines approved the agreements prior to their execution.
December 18, 2000
For the third year in a row, Continental Airlines was named one of the "100 Best Companies to Work For" by FORTUNE magazine in a study conducted in conjunction with the Great Place to Work Institute of San Francisco. Continental jumped to No. 18 on the list from last year's ranking at No. 23.
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