Continental posts $26 million 4th quarter loss
Houston-based Continental Airlines posted a net loss of $26 million in the fourth quarter, compared to a loss of $43 million in the same quarter 2005.
The latest result includes a special charge of $22 million related to lump-sum payments to retiring pilots.
Continental's operating income in the fourth quarter was $20 million, from a loss of $94 million in the comparable year earlier period. Revenue improved 11 percent to $3.2 billion from $2.8 billion. Revenue from cargo gained 3.4 percent to $122 million from $118 million.
For the full year, Continental reported a net income of $343 million, compared to a net deficit of $68 million in 2005. Continental's operating income in 2006 was $468 million, compared to a loss of $39 million in the previous year. Revenue was up 17.1 to $13.1 billion with cargo revenue increasing 9.9 percent to $457 million.