Advertisement

AIRLINES

From Times Staff and Wire Reports

New Bid for Continental Airlines Reported: The owners of Compania Mexicana de Aviacion have made a bid for Continental Airlines, an attorney involved in the carrier’s Chapter 11 bankruptcy case told Bloomberg Business News. The written offer was delivered to Continental and its creditors, according to the attorney, who asked not to be identified. The attorney said the offer was from the owners of Mexicana, not the airline itself. The amount of the offer wasn’t available. However, a stipulation approved by U.S. Bankruptcy Judge Helen Balick requires that any new bid for Continental total at least $385 million. Continental declined comment.

Advertisement