Texas Air Corp., the embattled airline empire controlled by Frank Lorenzo, said it will change its name to Continental Airlines Holdings Inc.
The Houston-based concern, once the nation's largest airline company, owns Eastern Airlines, which is currently in bankruptcy reorganization proceedings, in addition to Continental."The name change was made to reflect the fact that the principal business of the company is Continental," Lorenzo said at the annual stockholders meeting Wednesday.
The change will take effect on Monday, he said. The company's shares will continue to trade on the American Stock Exchange.