Continental Airlines Inc. will contribute $50 million in cash to its combined $1.3 billion pension plans, bringing its contributions for the year to $354 million. The money will come from the $172 million the airline received from the sale of roughly nine million shares of stock in Copa Holdings SA, parent company of Copa Airlines, through an IPO. Copa is Continental's Latin American partner. Continental still holds about 12 million Copa shares, according to a news release.
"We remain committed to meeting our pension obligations," Continental Chairman and CEO Larry Kellner said in the release.
