Continental Airlines 2004 Annual Report
Continental Airlines was founded over 60 years ago by Walter T. Varney and his partner Louis Mueller as Varney Speed Lines. On July 15, 1934, the carrier's first flight was flown on a 530-mile route between Pueblo, Colorado to El Paso, Texas with stops in Las Vegas, Santa Fe and Albuquerque, New Mexico. Mueller gained control over the carrier on the same year and in 1936, he sold 40 percent of the company shares to Robert F. Six. In July 1, 1937, Mr. Robert F. Six changed the name of Varney Speed Lines to Continental Airlines and moved the Continental's headquarters from El Paso, Texas to Denver, Colorado.
During the 1940's and 1950's, Continental Airlines was able to expand its fleet of aircraft and profits through its participation in World War II by providing the modified B-17 Flying Fortresses and B-29 Super Fortresses as the air transportation to the military. In 1953, Continental Airlines merged with southwest based Pioneer Airlines. This merger allowed Continental Airlines to operate 16 new air routes between Texas and New Mexico. By the end of the 1950's, Continental Airlines had expanded its routes to include Chicago and Los Angeles and was operating their first true jet (a Boeing 707-120) seven days a week, 16 hours a day.
By the early 1960's, Continental Airlines moved its headquarters to Los Angeles, California and was providing air transportation for US Military troops to the Orient during the Vietnam War. As the result of Continental's Pacific experience, Continental formed Air Micronesia, picking up air routes between Spain and Honolulu. With the passing of Airline Deregulation Act of 1978 airline carriers were provided with new freedoms to expand their route systems and the flexibility ...