CONTINENTAL, NORTHWEST REPORT FIRST-QUARTER LOSSES

CONTINENTAL, NORTHWEST REPORT FIRST-QUARTER LOSSES    Cargo revenues at Continental and Northwest airlines improved during the first quarter compared with the same period in 2002, but reduced demand in their core passenger business along with high fuel prices led to large losses.
   Houston-based Continental Airlines reported Tuesday that it lost $221 million on $2 billion in revenue. The airline lost $187 million during the first quarter of 2002.
   Revenue from cargo, mail and other operations jumped 40.5 percent to $170 million. Cargo ton-miles flown, a measure that reflects volume and distance traveled, rose 12 percent to 233 million.
   Northwest, based in St. Paul, Minn., said it lost $396 million, compared to $171 million in the first quarter of 2002. The company's operating revenues increased 3.2 percent to $2.25 billion, but expenses rose 8.4 percent. Cargo revenue grew to $167 million from $148 million, a 12.8 percent increase. Cargo revenue per ton-mile rose 11.5 percent to 34.5 cents based on 484 cargo ton-miles.