Continental Airlines halves quarterly loss=20 =09 Thursday April 15, 8:02 AM EDT=20 (Adds CEO comment, other details) CHICAGO, April 15 (Reuters) - Continental Airlines Inc. (CAL <http://money.excite.com/jsp/qt/full.jsp?time=3D0&symbol_search_text=3DCA= L> ) on Thursday reported a quarterly loss that was about half the year-ago loss, even as high jet fuel prices took a heavy toll on its business. Continental was the second major U.S. carrier to post a quarterly loss so far this earnings season, following Delta Air Lines' (DAL <http://money.excite.com/jsp/qt/full.jsp?time=3D0&symbol_search_text=3DDA= L> ) $383 million loss reported on Wednesday. Texas-based rival Southwest Airlines (LUV <http://money.excite.com/jsp/qt/full.jsp?time=3D0&symbol_search_text=3DLU= V> ) posted a $26 million profit on Thursday. "The outrageously high cost of fuel remains a challenge to our return to profitability," said Continental Chief Executive Gordon Bethune, who is leaving at year-end. The Houston-based No. 5 U.S. airline said its first-quarter loss was $124 million, or $1.88 a diluted share, compared with a loss of $221 million, or $3.38 a share, a year earlier. =09 Excluding after-tax charges of $35 million, Continental's loss was $1.36 a share. On that basis, analysts had expected Continental to post a loss of $1.39 a share, with loss estimates ranging from $1.20 to $1.70 a share, according to Reuters Research, a unit of Reuters Group Plc. Continental has warned that its plans to break even or be profitable this year are "at great risk" due to lofty oil prices. The airline ended the first quarter with $1.6 billion in cash and short-term investments.=20 =A92004 Reuters Limited.