- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION ----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 ----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
Director X 10% Owner
Northwest Airlines Corporation Continental Airlines, Inc.; CAIA (NYSE) ---- ----
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) ----------------- ------------------
2700 Lone Oak Parkway November, 1998
- -------------------------------------------- 41-1905580 --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original Form filed by One Reporting Person
(Month/Year) ---
X Form filed by More than One
Eagan, Minnesota 55121 ---Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Class A Common Stock, See See
$0.01 par value 11/20/98 P 7,678,522 A Attachment A -- I Attachment A
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Class A Common Stock, See
$0.01 par value 11/20/98 P 982,702 A $60.82 -- I Attachment A
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Class A Common Stock, See
$0.01 par value 11/20/98 P 853,644 A -- 9,514,868 I Attachment A
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
SEC 1474 (7-97)
FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
--------------------
Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
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7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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Explanation of Responses:
December 10, 1998
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NORTHWEST AIRLINES CORPORATION Date
By: /s/ Douglas M. Steenland
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Douglas M. Steenland
Executive Vice President,
General Counsel and Secretary
December 10, 1998
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**Intentional misstatements or omissions of facts constitute NORTHWEST AIRLINES HOLDINGS CORPORATION Date
Federal Criminal Violations.
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually By: /s/ Douglas M. Steenland
signed. -----------------------------
If space is insufficient, SEE Instruction 6 for procedure. Douglas M. Steenland
Executive Vice President,
General Counsel and Secretary
Page 2
SEC 1474 (3/91)
ATTACHMENT A TO FORM 4
Reporting Person Date of Event Issuer Name and Ticker
- ---------------- ------------- ----------------------
Northwest Airlines Corporation 11/20/98 Continental Airlines, Inc.
2700 Lone Oak Parkway CAIA (NYSE)
Eagan, Minnesota 55121
Northwest Airlines Holdings Corporation
2700 Lone Oak Parkway
Eagan, Minnesota 55121
4. Securities Acquired
Price
For the 7,678,522 shares of Continental Class A Common Stock owned of
record by Air Partners, L.P., Northwest Airlines Corporation (i) paid $60.82
per share for each of 5,121,294 of such shares and (ii) issued 1.2079 shares of
Class A Common Stock, par value $.01 per share, of Northwest Airlines
Corporation (valued as of November 20, 1998 at 22 11/16) in exchange for each
of 2,557,228 of such shares.
7. Nature of Indirect Beneficial Ownership
This Form 4 is being filed by Northwest Airlines Corporation, a
Delaware corporation (formerly Newbridge Parent Corporation, "Northwest") and
Northwest Airlines Holdings Corporation, a Delaware corporation (formerly
Northwest Airlines Corporation, "Holdings") in connection with (i) the
acquisition by Northwest of beneficial ownership of 8,535,868 shares of
Class A Common Stock, par value $.01 per share ("Continental Class A Common
Stock"), of Continental Airlines, Inc., a Delaware corporation
("Continental") pursuant to an Investment Agreement, dated as of January 25,
1998, as amended by Amendment No. 1, dated as of February 27, 1998, and
Amendment No. 2, dated as of November 20, 1998 (the "Investment Agreement"),
among Northwest, Holdings, Air Partners, L.P., a Texas limited partnership
(the "Partnership"), the partners of the Partnership signatory thereto (the
"Partners"), 1998 CAI Partners, L.P. ("CAIPar"), Bonderman Family Limited
Partnership, a Texas limited partnership ("Transferor I"), 1992 Air, Inc., a
Texas corporation ("Transferor II"), and Air Saipan, Inc., a corporation
organized under the laws of the Commonwealth of the Northern Marianas Islands
("Transferor III" and, collectively with Transferor I and Transferor II, the
"Transferors"), and (ii) the acquisition by Northwest of an additional
979,000 shares of Continental Class A Common Stock pursuant to the Purchase
Agreement, dated as of March 2, 1998 (the "Purchase Agreement"), among
Northwest, Holdings, Barlow Investors III, LLC, a California limited
liability company (the "Seller"), and the guarantors signatory thereto (the
"Guarantors")."
Page 3 of 5
As of November 20, 1998, Northwest became the beneficial owner of a
total of 9,514,868 shares of Continental Class A Common Stock, consisting of
(i) 7,678,522 shares of Continental Class A Common Stock owned of record by
Air Partners, L.P., a Texas limited partnership, (ii) 982,702 shares of
Continental Class A Common Stock acquired by Holdings from Transferor III
(the 3,702 shares acquired from Transferor III, together with the 7,678,522
shares held by the Partnership, the "Transferred Shares") and from the Seller
(the 979,000 shares acquired from the Seller, the "Barlow Shares")(the
8,661,224 shares represented in (i) and (ii) hereof, the "Acquired Shares")
and (iii) an additional 853,644 shares of Continental Class A Common Stock
(the "Retained Shares") owned by 1998 CAI Partners, L.P., a Texas limited
partnership ("CAIPar"), Transferor I and Transferor II, of which Northwest may
be deemed to have acquired beneficial ownership as a result of the voting and
transfer restrictions set forth in the Investment Agreement. The 7,678,522
shares of Continental Class A Common Stock owned indirectly by Northwest
through Air Partners, L.P., represents 100% of the shares of Continental
Class A Common Stock held by Air Partners, L.P. The 8,661,224 Acquired Shares
of Continental Class A Common Stock beneficially owned by Northwest in the
aggregate represent approximately 75.9% of the outstanding Continental Class
A Common Stock, approximately 14.6% of the outstanding Continental Common
Stock and approximately 53.4% of the outstanding voting power of the
Continental Common Stock (based on the number of shares of Continental Common
Stock outstanding on October 27, 1998).
The Acquired Shares have been deposited in a voting trust created
pursuant to the Voting Trust Agreement, dated as of November 20, 1998 among
Continental, Northwest, Holdings, and Wilmington Trust Company, a Delaware
banking corporation.
Page 4 of 5
ATTACHMENT B TO FORM 4
Designated Reporting Person Date of Event Issuer Name and Ticker
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Northwest Airlines Corporation 11/20/98 Continental Airlines, Inc.
2700 Lone Oak Parkway CAIA (NYSE)
Eagan, Minnesota 55121
Joint Filer IRS Number
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Northwest Airlines Holdings Corporation 95-4205287
2700 Lone Oak Parkway
Eagan, Minnesota 55121
Page 5 of 5
