Continental Air sees 2002 loss, maybe charges

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CHICAGO, Feb 21 (Reuters) - Continental Airlines Inc. (CAL) said on Thursday
it sees a "significant loss" in its first quarter and also expects a loss in
the fourth quarter of 2002 and for the full year overall.

In a regulatory filing with the Securities and Exchange Commission, the No.
5 U.S. airline also said it may take more charges for its grounded aircraft.
As of Jan. 31, it had 56 jets and 19 turboprop aircraft temporarily parked.

The airline said it was possible the aircraft would be permanently removed
from service, depending on demand and yield, or average fare per mile, in
the coming months. In the fourth quarter, the Houston-based carrier took a
$61 million pre-tax charge for aircraft. The airline did not specify when
additional charges would be taken.

Continental also said its cash burn from operations at Feb. 20 stood at a
negative $2 million daily. It said it still planned to sell to the public a
portion of its interest in regional feeder airline ExpressJet, which
operates as Continental Express.

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