Parent Corporation merged Texas International and Continental on June 1, 1982. This was just Frank Lorenzo's first disastrous example of 1 + 1 does not equal 2. A little over a year later, Continental would be in bankruptcy for the first time. At the time of the merger, Continental served Micronesia, Hawaii, Mexico, the South Pacific, and domestic destinations from the Denver and Houston hubs. At this time, Newark and Cleveland were still years from being hubs.