DALLAS—Continental Airlines Inc. has insurance policies with AIG and fuel-hedging contracts with bankrupt Lehman Brothers, but the airline’s treasurer said Thursday the carrier is not concerned about the ties with troubled financial companies.

Gerry Laderman, who is also a senior vice president at Houston-based Continental, said the airline expected minimal effect from turmoil in the credit markets because it financed nearly all of its aircraft purchases for this year before the latest trouble hit. Laderman said Continental doesn’t have “any real exposure specifically” to struggling insurer American International Group Inc., which the Federal Reserve has pledged to prop up with an $85 billion loan. AIG shares have plunged more than 80 percent this week. “Obviously, it’s like every other Fortune 500 company,” Laderman said at an investor conference in New York. “AIG writes a lot of insurance for us ... We have watched the situation closely, but we’re not concerned right now.”

Laderman said Lehman Brothers, which filed for bankruptcy protection Monday after it could not raise capital to shore up its balance sheet, has been a counterparty on some of Continental’s fuel-hedging. Those transactions were designed to limit the carrier’s exposure to high fuel prices that have pushed Continental and most other U.S. airlines into losses this year. With the recent drop in oil prices, airlines could lose money on those hedges.

Continental shares fell 87 cents, or 4.8 percent, to $17.35 in afternoon trading.