SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 21, 1996
CONTINENTAL AIRLINES, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-09781 74-2099724
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2929 Allen Parkway, Suite 2010, Houston, Texas 77019
(Address of principal executive offices) (Zip Code)
(713) 834-2950
(Registrant's telephone number, including area code)
Item 5. Other Events.
On November 21, 1996, Continental Airlines, Inc. issued a press
release, which is filed herewith as Exhibit 99.1 and incorporated
herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 Press Release
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, Continental Airlines, Inc. has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
CONTINENTAL AIRLINES, INC.
By /s/ Jeffery A. Smisek
Jeffery A. Smisek
Senior Vice President and
General Counsel
November 21, 1996
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT: CORPORATE COMMUNICATIONS
(713) 834-5080
CONTINENTAL ANNOUNCES PURCHASE OF WARRANTS FROM AIR PARTNERS
HOUSTON, November 21, 1996 -- Continental Airlines, Inc.
(NYSE: CAI.B and CAI.A) stated today that Air Partners, L.P.
exercised its previously announced right to sell to Continental $50
million in intrinsic value (current Class B common stock price
minus exercise price) of warrants to purchase Class B common stock
previously issued by Continental. As a result, Continental will
purchase, for $50 million in cash, warrants to purchase 2,614,379
Class B shares at an exercise price of $7.50 per share. The
transaction will close early next week.
Air Partners continues to be the company's largest
stockholder.