Agreement With Rocky Mountain Airways
Continental Airlines later purchased Rocky Mountain Airways, a regional operator considerably larger than Trans-Colorado, and was also based at Denver Stapleton. On May 13, 1987, Trans-Colorado entered into an agreement with Rocky Mountain Airways to provide it with flights under the Continental Express designation.
Under the terms of the contract, which was in effect through February 28, 1988, Trans-Colorado provided Rocky Mountain with airplanes and crews for $400/block hour for flights operated from May 15, 1987 through December 31, 1987, and $357/block hour for flights operated from December 31, 1987 through February 28, 1988. A minimum of 245 block hours per aircraft per month was guaranteed, averaged over the period of the contract. In addition, Rocky Mountain paid Trans-Colorado a fee for its aircraft that were not leased and for aircraft that were not flown due to weather, air traffic control, and related factors. Rocky Mountain provided the flight schedules, ground handling, and support services for the flights. Flights were to be operated in accordance with Trans-Colorado policies and procedures. The contract specified that Trans-Colorado could not be sold or control of the voting stock transferred without the approval of Rocky Mountain. However, the contract stated that "Continental's withholding of consent will not be unreasonable....”
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