4/22/2009

Continental Airlines reported a net loss of $136 million in the first quarter as "significant declines" in business travel contributed to a 17% drop in revenues. The loss of $1.10 per share beat the consensus of Wall Street analysts, who expected a per-share loss of $1.19. Continental said bookings for the next six weeks are running two to three percentage points ahead of the same time last year, with trans-Atlantic and trans-Pacific routes beginning to show signs of increased demand.

Related Summaries