Continental is negotiating with its creditors.
The airline, which has been operating under the protection of a federal bankruptcy court since August, 1983, said it will file its reorganization plan with the court by Sept. 5. “We won’t ask for another extension,” Continental Airline spokesman Mike Cinelli said. The carrier has been granted several extensions to file a plan of reorganization. Bankruptcy Judge T. Glover Roberts ruled this week that the the carrier will lose its exclusivity rights Sept. 5 if it does not file a plan to show how creditors will be paid an estimated $1 billion.