Continental Airlines had June profit - analysts

[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

 



Continental Airlines had June profit - analysts



Tuesday July 2, 10:46 AM EDT


CHICAGO, July 2 (Reuters) - Continental Airlines (CAL
<http://money.excite.com/jsp/qt/full.jsp?time=0&symbol_search_text=CAL>
) recorded a small profit for the month of June, according to Wall
Street analysts who follow the No. 5 U.S. airline, but not enough to
offset losses in the rest of the second quarter.

"Continental's management announced (to analysts) last night that the
airline eked out a very small profit for the month of June instead of
the small loss that management had been anticipating," Susan Donofrio,
analyst at Deutsche Bank Securities, said Tuesday.

Continental, based in Houston, was not available to comment.

The airline late Monday reported its June revenue per available seat
mile fell 5 percent to 7 percent, compared with an industrywide drop of
about 14 percent in passenger revenues, according to Salomon Smith
Barney analyst Brian Harris.

The airline also said it would take charges totaling $104 million in the
second quarter for various things including aircraft writedowns and the
cost of exiting leases.

Harris said Continental's June profit is consistent with his idea that
the airline would be one of the first carriers to return to
profitability since Sept. 11. Among majors, only Southwest Airlines (LUV
<http://money.excite.com/jsp/qt/full.jsp?time=0&symbol_search_text=LUV>
) has consistently made money.

[Index of Archives]         [NTSB]     [NASA KSC]     [Yosemite]     [Steve's Art]     [Deep Creek Hot Springs]     [NTSB]     [STB]     [Share Photos]     [Yosemite Campsites]