AIRLINES

Continental Orders Boeing Planes, Unveils Growth Plan: Continental Airlines Inc. ordered 48 Boeing Co. 737-700 and 737-800 aircraft and plans to retire its domestic fleet of 31 Boeing 727 aircraft. The Houston company now has firm orders for 61 Boeing planes. Continental also unveiled a five-year growth plan that focuses on moderate growth at hubs in Newark, N.J.; Houston; Guam; and Cleveland, “provided that market conditions permit profitability.” In addition to the 48 new aircraft, the orders include eight 757 orders for 1997-98. Continental said it will be the first U.S. airline customer for the Boeing 737-800, which will result in the retirement of the domestic fleet of 727s. The 737-700s and 737-800s are due for certification in late 1997 and early 1998, respectively.