* Continental Airlines Holdings Inc. credited improved...

* Continental Airlines Holdings Inc. credited improved business conditions, lower fuel prices, higher passenger traffic and internal cost-controls with helping it end the fourth quarter with earnings of $4.4 million and keeping losses for all of 1991 to $305.7 million.

In the same quarter a year ago, the parent company of Continental Airlines reported an airline industry record loss of $2.2 billion.

Houston-based Continental reported that the earnings for the quarter came on revenue of $1.38 billion and amounted to 3 cents a share, contrasted with $52.37-a-share losses for the last quarter of 1990. Revenue in the year-ago quarter was $1.38 billion.

For all of 1991, Continental said its loss of $305.7 million, amounting to $6.74 a share, came on revenue of $5.55 billion. That compared to a loss of $2.34 billion, or $57.52 a share, last year when revenue was $6.23 billion.

Continental Airlines, one of three large U.S. air carriers now flying under the protection of federal bankruptcy laws, filed a reorganization plan Thursday to show how it would bring the company out of bankruptcy by July 1.

The carrier said it is benefiting from lower fuel prices; higher traffic and load factors; internal cost controls, and better revenue production and management.