Continental Airlines
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Continental Airlines is one of the six biggest airlines worldwide. Continental flies to 122 domestic and 90 international destinations with over 2,100 daily departures (Continental 1). The corporate headquarters is located at: 1600 Smith Street, Houston, Texas 77002. Continental has experienced a remarkable turn-a-round over the past two decades. When current CEO Gordon Bethune took over the company in the early 1990s, the company had filed for Chapter 11 bankruptcy protection twice in the preceding decade, its stock refused to budge from its $3.25 price, and morale was at an all-time low because the company had witnessed 10 leaders and as many management schemes in 10 years time (Bethune 5). By the end of 1996, Continental which hadn’t turned a profit in ten years now had 16 straight profitable quarters, its stock was trading at $50 or higher, and employee motivation and productivity were greatly improved (Bethune 7).Gordon Bethune is the chairman of the board and the CEO of Continental Airlines, the nation’s fifth largest airline. Bethune has been with Continental since 1994. During his brief tenure, Bethune’s leadership has made Continental number one in customer services, and the company was named Airline of the Year by Air Transport World for the second time in five years in 2001 (Continental 1). President of Continental Airlines is Larry Kellner, with the company since 1995. Kellner is the first three
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he job done, and are turning instead to farther-reaching, riskier options in their attempt to ride out the worst downturn they have ever experienced” (24).
The alliance with Delta and Northwest resembles the US Airways alliance with United Airlines, but the Delta alliance is 50% larger and includes more overlapping routes. David Siegel, president of US Airways, is furious over the proposed alliance. He argues the overlapping routes are anticompetitive and in much harsher tones, he called the strategy one that is “built on U.S. Airways’ failure” represents an “axis of evil” and he called Delta Chairman Leo Mullin “Dr. Evil” (US Airways A52). Despite Siegel’s reaction to the proposed partnership, it is common of the strategies being employed by airlines like Continental who are suffering losses. In 2001, Continental’s net loss for the full year was $95 million (Continental 1). Without the Airline Stabilization Act grant net losses would have been closer to $266 million (Continental 1). Such losses are making airlines like Continental resort to survival strategies.
Continental is expanding its markets as another part of its strategic measures. Beginning in July of 2002, Continental increased its frequency of flights to marke
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Approximate Word count = 1440
Approximate Pages = 6 (250 words per page)
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