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From Times Staff and Wire Reports
Continental Credit Line OKd: A bankruptcy court in Wilmington, Del., has approved Continental Airlines’ request to use a $120-million credit line it had sought as a financial cushion. Financially strapped Continental said the money would not go for daily operations but instead be an “insurance policy” against further downturns in the economy. The nation’s fifth-largest carrier filed for Chapter 11 bankruptcy protection in December.
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