• ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
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Continental’s results improve with $66 million 1st quarter net loss

Continental’s results improve with $66 million 1st quarter net loss

   Despite double-digit increase in revenue Continental Airlines posted a net loss of $66 million in the first quarter, an improvement over the $186 million net loss in the same quarter 2005.

   In the last quarter the Houston-based airline reported a quarterly operating profit of $11 million, from an operating loss of $173 million a year ago. Revenue was up 17.6 percent to $2.95 billion from $2.50 billion. Revenue from cargo, mail and other operations rose 8.1 percent to $107 million from $99 million. Cargo ton-miles flown, a measure that reflects volume and distance traveled, increased 1.2 percent to 263 million.

   The airline said its fuel costs and related taxes in the first quarter jumped 40.6 percent to $661 million from $470 million in the first quarter 2005.

   During the quarter, Continental recorded net special items of $20 million, consisting of a $26 million charge for the cumulative effect of an accounting change related to the liability for fair value of restricted stock units, a $14 million credit associated with all officers surrendering their restricted stock units that otherwise would have paid out in the quarter, a $15 million settlement charge related to lump-sum pension payments to retiring pilots, and a $7 million net expense reversal related primarily to negotiated settlements on three leased MD-80 grounded aircraft.

   The airline ended the first quarter with more than $2 billion in unrestricted cash and short-term investments.

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