Continental Airlines, founded in 1934, was looking at its second bankruptcy in 1990. A combination of high fuel prices and poor customer service was taking its toll on Continental. It was hemorrhaging money, losing hundreds of millions of dollars each year. In 1994, the company lost around $600 million. Then former Boeing executive Gordon Bethune was appointed as President. Bethune, who eventually became CEO, placed an emphasis on improving management and respecting and cultivating the workforce. He cut costs, updated the fleet and markedly improved customer service. The airline became the timeliest airline in the United States of America. All this brought customers back in droves. It marked the beginning of a turnaround, and Continental staged what has long been recognized as one of the greatest comeback stories in aviation history. In 1995, the company made $225 million.The airline merged with United Air Lines Corporation in 2008 to better compete in the fast-consolidating market, but the turnaround still remains one of the industry's biggest success stories.