The story
The airline was founded in 1995 as a cargo airline operating three Tupolev Tu-154s. Its initial base was Vnukovo International Airport. In 2000, it acquired three Ilyushin Il-76TDs to increase the number of routes it flew and add more destinations. In 2004, they acquired an additional four Tu-154s to start their passenger service, which would make its first flight in 2005.
After facing financial problems for two years, selling several Il-76s and suspending most of their destinations, the Rosaviatsiya revoked Continental's permission to fly on July 29, 2011. The next day, the airline declared bankruptcy, thus ceasing all its operations.
From Wikipedia’s article on Continental Airways, shared under CC BY-SA 4.0.3