Texas Air Corporation was created as an airline holding company in 1980 whose function was to hold and invest in airlines, beginning with Texas International Airlines. The company’s headquarters is in the American General Center in Neartown Houston, Texas. After the Airline Deregulation Act was passed in 1978 Texas International Airlines grew significantly. In 1982 Texas Air acquired Continental airlines. In 1985 Texas Air lost its bid to acquired Trans World Airlines, but in 1986 the company purchased Eastern Air Lines and People Express. By 1987 Texas Air Corporation controlled 20 percent of the United States airline market, despite the fact that the holding company itself only had 20 official employees.
By 1990 Texas Air Corporation had been divided with its different parts sold to Scandinavian Airlines System, Ross Perot’s EDS (Electronic Data Systems) and an Air Canada investment group. What was once Texas Air became known as Continental Airlines which eventually merged into United Continental Holdings.
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