Continental Airlines: Bouncing Back Every Time!
Continental Airlines went through a rough patch every now and then in its long history. Even then, the airline always managed to make a comeback. Today, the airline has merged with United Airlines and has given up its name to take on the name of United. Its legacy however will always remain and people will always remember the name of the great airline as one of the best things to happen to the field of commercial aviation. It will also be remembered for the fight it always put in when cornered.The year 1983 was a particularly bad one for Continental Airlines when Flank Lorenzo, after a hostile takeover, allegedly pushed the airline into bankruptcy singlehandedly. The re-organization laid too heavy a price on the morale of the employees and was a result of numerous labor agreements. Filing for bankruptcy however was a good move as within a year the airline started showing profits, to the tune of USD 50 million in 1984.
In 1985, the airline began services to Europe and finally managed to shake off the shackles of the troubled years it had faced. The flights to London from Newark and Houston met with great aplomb and Continental Airlines soon began services to Munich, Paris, Madrid, and Frankfurt.
During this period there were many airlines which faced troubled times. Frontier Airlines, acquired by People Express files for bankruptcy too. Circumstances and negotiations saw three airlines, People Express, Frontier Airlines, and New York Air merging into Continental Airlines. The airline suddenly had a vast network and a large fleet. This consolidation made the airline the third largest in the United States and sixth largest in the world.
Continental Airlines also made a path breaking alliance with SAS, or the Scandinavian Airlines System, a first of its kind. This period also saw the launch of the OnePass program, the frequent flier program of Continental Airlines.The year 1990 saw Continental Airlines file for bankruptcy a second time in less than 10 years. The increase in fuel prices due to the Gulf War, the acquisition of People Express which had gone beyond it means to acquire Frontier Airlines and the ignorance of the CEO Frank Lorenzo were among the factors that pushed the airline to a corner. United Airlines had then drastically reduced services and USAir faltered with a few operations which in turn gave Continental Airlines the chance to come back into the market.
A new design for its livery and an investment of USD 450 million by Air Canada, Texas Pacific Group, and Air Partners, saw the airline bounce back yet again.Always ready for a fight, Continental Airlines was an organization that always seemed to fly on when others thought it would crash!
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