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But a bankruptcy filing came less than 16 months later.
Business bankruptcy filings are half what they were in 1987.
It was the company's second bankruptcy filing in a decade.
The club has had financial problems for years, which led to its federal bankruptcy filing in 1998.
The bankruptcy filing came at a bad time for the league's image.
There were 1.45 million bankruptcy filings last year, a record, up 19 percent from 2000.
He said a Chapter 11 bankruptcy filing by the company was "very likely."
But the bankruptcy filing will make the company's future more uncertain.
He resigned from the Board in 2003 during the company's bankruptcy filing.
All that could lead to a bankruptcy filing, the airline said.
This is the second use of a bankruptcy filing by Continental.
The checks are expected to be held back because of the bankruptcy filing.
Then, he said, another bankruptcy filing would be "a significant possibility."
A bankruptcy filing would also do little to help save the airline.
A slowdown had set in for several weeks after the bankruptcy filing.
Bankruptcy filings have increased 34 percent during the last ten years.
By the time he was done, he'd filled an entire page with what read like a bankruptcy filing.
He said a bankruptcy filing would have a "devastating effect" on the local and national economy.
Prior to its bankruptcy filing, the company employed 624 people.
Before the bankruptcy filing employees owned 15 percent of the stock.
Nationally, he said bankruptcy filings were down by 23.5 in the same time.
It was one of the first cutbacks made after the bankruptcy filing.
The bankruptcy filing "in some ways is a victory for the union," he said.
Perhaps the bankruptcy filing will be most acutely felt in Texas.
But a top official said today that the government did nothing to encourage the bankruptcy filing.