AIRLINES
From Times Staff and Wire Reports
Continental Forgoes Pension Payment: The Houston-based carrier has decided not to make a $17-million payment to its seven employee pension plans, citing objections from the company’s unsecured creditors. The action would not affect the pension payments retired employees now receive from the company’s plans, said Art Kent, spokesman for airline. The federal pension agency, the Pension Benefit Guaranty Corp., contends that Continental owes $182.3 million in missed contributions, overdue premium payments and under-funding of the company’s plans.
