AIRLINES
From Times Staff and Wire Reports
Continental’s Reorganization Deadline Extended: The carrier’s request to extend its exclusive right to file a reorganization plan won approval by U.S. Bankruptcy Judge Helen S. Balick. Balick extended the period until Jan. 15, blocking creditors or anyone else from filing a competing reorganization plan that the court would have to consider simultaneously. The period was to have expired today. Continental Airlines Holdings Inc., which filed for Chapter 11 bankruptcy protection in December, 1990, said it needs more time to negotiate 32 contracts relating to a bid by Air Canada-Air Partners to buy Continental for $450 million. Continental filed a reorganization plan Nov. 16.
