Continental Airlines Inc., Houston, contributed $50 million to its pension fund Monday, said Julie King, spokeswoman. The airline has contributed $180 million to its $1.28 billion pension fund so far in 2005, and officials have said they expect the carrier to contribute an additional $86 million during the remainder of the year. The pension fund had $2.36 billion in liabilities as of Dec. 31, according to the airline's annual report.
"Our employee pension plan continues to be a high priority," Chairman and CEO Larry Kellner said in a statement. "We are working hard to fulfill our pension obligations and keep our promises to our employees."
Funding for the contribution came from proceeds of a $350 million term loan. Continental initially borrowed $300 million under the loan June 1 and used the funds for general corporate purposes, Ms. King said.