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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001181431-10-049827.txt : 20101005
<SEC-HEADER>0001181431-10-049827.hdr.sgml : 20101005
<ACCEPTANCE-DATETIME>20101005171822
ACCESSION NUMBER:		0001181431-10-049827
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101001
FILED AS OF DATE:		20101005
DATE AS OF CHANGE:		20101005

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WILLIAMS KAREN HASTIE
		CENTRAL INDEX KEY:			0001050759
		STANDARD INDUSTRIAL CLASSIFICATION:	NEWSPAPERS:  PUBLISHING OR PUBLISHING & PRINTING [2711]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10323
		FILM NUMBER:		101110026

	MAIL ADDRESS:	
		STREET 1:		GANNETT CO INC
		STREET 2:		7950 JONES BRANCH DRIVE
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22107

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONTINENTAL AIRLINES INC /DE/
		CENTRAL INDEX KEY:			0000319687
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				742099724
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1600 SMITH STREET 3303D
		STREET 2:		DEPT HQSEO
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		7133245000

	MAIL ADDRESS:	
		STREET 1:		1600 SMITH STREET 3303D
		STREET 2:		DEPT HQSEO
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PEOPLE EXPRESS AIRLINES INC
		DATE OF NAME CHANGE:	19890726
</SEC-HEADER>
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<SEQUENCE>1
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<DESCRIPTION>FORM 4
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        <issuerName>CONTINENTAL AIRLINES INC /DE/</issuerName>
        <issuerTradingSymbol>CAL</issuerTradingSymbol>
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            <rptOwnerName>WILLIAMS KAREN HASTIE</rptOwnerName>
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            <rptOwnerStreet2></rptOwnerStreet2>
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            <rptOwnerZipCode>77002</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class B Common Stock</value>
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            <transactionDate>
                <value>2010-10-01</value>
            </transactionDate>
            <transactionCoding>
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                <transactionCode>D</transactionCode>
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    <derivativeTable>
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            <conversionOrExercisePrice>
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            <transactionDate>
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            <transactionDate>
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                    <value>5000</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2002-04-17</value>
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            <expirationDate>
                <value>2012-04-17</value>
            </expirationDate>
            <underlyingSecurity>
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            <securityTitle>
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            <transactionDate>
                <value>2010-10-01</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-03-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-03-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
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                <underlyingSecurityShares>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
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            <conversionOrExercisePrice>
                <value>23.62</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2010-10-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F5"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            </transactionAmounts>
            <exerciseDate>
                <value>2006-06-06</value>
            </exerciseDate>
            <expirationDate>
                <value>2016-06-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
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                <underlyingSecurityShares>
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            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
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            <transactionDate>
                <value>2010-10-01</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-06-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2017-06-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Disposed of pursuant to the Agreement and Plan of Merger, dated as of May 2, 2010, by and among Continental Airlines, Inc. (&quot;Continental&quot;), UAL Corporation and JT Merger Sub Inc., in exchange for 1.05 shares of common stock of United Continental Holdings, Inc. (&quot;UAL&quot;) per share of Continental B Common Stock on October 1, 2010.  Any fractional share will be paid in cash.  Shares reported in Table I Column 4 include 2,311 restricted shares that vested on October 1, 2010.</footnote>
        <footnote id="F2">Options were converted pursuant to the Merger Agreement into options to purchase 5,250 shares of UAL common stock at $47.43 per share, with the same terms and conditions as the original Continental options.</footnote>
        <footnote id="F3">Options were converted pursuant to the Merger Agreement into options to purchase 5,250 shares of UAL common stock at $28.20 per share, with the same terms and conditions as the original Continental options.</footnote>
        <footnote id="F4">Options were converted pursuant to the Merger Agreement into options to purchase 5,250 shares of UAL common stock at $12.39 per share, with the same terms and conditions as the original Continental options.</footnote>
        <footnote id="F5">Options were converted pursuant to the Merger Agreement into options to purchase 5,250 shares of UAL common stock at $22.50 per share, with the same terms and conditions as the original Continental options.</footnote>
        <footnote id="F6">Options were converted pursuant to the Merger Agreement into options to purchase 5,250 shares of UAL common stock at $32.48 per share, with the same terms and conditions as the original Continental options.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Sarah Hagy on behalf of Karen Hastie Williams</signatureName>
        <signatureDate>2010-10-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----