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Continental Airlines (CAL Quote) received $156 million from the sale of around 7.5 million Class A common shares of Copa Holdings (CPA Quote), the parent company of Copa Airlines.
After the sale, Continental will still own roughly 4.4 million Class A shares of Panama's Copa. The company is contributing $75 million of the proceeds to its pension plans, bringing its total for this year to $172 million.
Copa said last week that Continental had priced an offering of 6.56 million shares at $21.75 each. The underwriters of the stock sale had the option to buy around 984,000 additional shares to cover any overallotments. ...
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