This is a multi-part message in MIME format. ------=_NextPart_000_0062_01C52BA4.369CBE00 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Continental Airlines Sees First-Quarter Loss <http://money.excite.com/img/dji.gif> Friday March 18, 7:34 AM EST WASHINGTON -- Add Continental Airlines Inc. (CAL <http://money.excite.com/jsp/qt/full.jsp?time=0&symbol_search_text=CAL> ) to the roster of U.S. carriers expecting to rack up big financial losses in 2005. The Houston-based airline, in a Friday filing with the Securities and Exchange Commission, said it anticipates running a "significant loss" for the year and projects red ink for the first quarter as well. Specific projections were not disclosed. Continental also said it expects to end the March quarter with a balance of unrestricted cash and short-term investments ranging between $1.3 billion and $ 1.4 billion. The quarter's debt principal and capital lease payments will total about $110 million, the company said. In addition, at a time of fluctuations in the cost of jet fuel as crude-oil prices have risen, Continental said it doesn't currently have any fuel hedges in place. Having negotiated tentative labor contracts including givebacks with several of its unions, Continental said it expects the ratification process for these agreements to be complete by the end of March. Regarding its business trends, Continental said domestic bookings through the end of March have been "strong" but that April's bookings are "slightly behind" a year ago. Transatlantic bookings through March are "about flat with last year," while bookings on flights to Latin America are "up significantly" and Pacific bookings are "about flat," Continental said. Domestic yields are projected to be down by about 5% to 6% for the first quarter, with the carrier's mainline load factor pegged at 77% to 78%. Continental's update follows similarly downbeat forecasts issued in recent days by Delta Air Lines Inc. (DAL <http://money.excite.com/jsp/qt/full.jsp?time=0&symbol_search_text=DAL> ) and America West Airlines, a unit of America West Holdings Corp. (AWA <http://money.excite.com/jsp/qt/full.jsp?time=0&symbol_search_text=AWA> ). ------=_NextPart_000_0062_01C52BA4.369CBE00 Content-Type: image/gif; name="dji.gif" Content-Transfer-Encoding: base64 Content-Location: http://money.excite.com/img/dji.gif R0lGODlhiAAnAPQAAP///yMfIMjHx1pXWJGPj0xJSqyrq3ZzdNbV1Z6dnePj4zEtLvHx8T87PGhl Zrq5uYSBggAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAACwAAAAA iAAnAAAF/yAAFEFZDgQjroJjLoc6mCJiDiJhQmYitqZATPQwOVaLEkEQDOYaQQdiRa1ar9istfma injcAmNWEh1uImhgcC4JADpuQxUvKQAK0yPBDTQAZE0LXlqFhoVMfWtfigEEbQEADEknAEVuJGV8 igeAQQSWJgqQBQOmEAZBaiVHh66vK6klBUAmCIklPi4lDXUAspW7fyYNeSadYAELAKvKcCXLmQEq K7sBEJJosNuGyaCTetY4ALiOJgLNC8YBBrgOpD9BDFwGZDgvAvlvgQsQDw/5CHEbaCXQAxGBNpUw EM9EnTo9oP1ySIldQzdcBqiBUM6JwhegCIrcIkpERYh3AP8oXABMTUU1oJJ99ALMXAlIJgzU1IbT 4cifAGxIJBekZjUjHdlxuWPQiZkbwtbZSnaAgNWDP6wNBUoQGA4G0hqUEyG1XZMDHTsBIFZOhYKK BtQcCVQmUMqgpgYwfEaDK8E6BxI0eyCVwANpBYgGUdBxitA1844JCLtWSSgTiT9ZJQBsAcA6y/wO pHsWoaJBeILgKDcOGKieXXBhXaVX0UcuIUVvqxhkQe63cggFeVNuL6SDYPskIGCNd6Pnqq8KuKtb S968BwxQW8EAQqYBCbYDMtVq/AAHAh7JIyJNUQNTVhPoo26Icb7lBEwteE9AfvX/h7TnxwHNYOYA Z9MBeMX/LQRAMEABDiQgkIL/SdUHCgZMSOEhDAiw14a6IZAAaQNmCOKJKBrywAHONZAdfSnGGOOK zhUgoYw44qgABDUmAGMWEBzR3RE3/jDAG9ww4AJWOfpVTxMN+MhNAWoVgA1LKxTxoyFVISBekwQp QABvMGhYBQMEiGnJAwgw1IsPLImIBwFtDuIDAwmEZwBhBuQWFJ0CLFAemGH2FOWXWMwABR8OODgP FEw8sMAy7yUAQQMkAOLAAgUsimlKDzTgwABFfEjoNqM0UYCphqTCxGQ8LhFAEXwAcMBcC4wxgINM oJUKAjZgI0IBVh0Zyamo9nQkNwQUIOk8JKBArLSTOdAn/y2zPuiCAg80C4eDKzgCnrfIwnKLPvkQ 5ICLCCggxQDANsqAAQ4wcIA/uwLibprnIQCBLqSukB9Dt5bbZJQzgsWkwSnmd8CW/z3oJ8MUV2zx xRhzcy6603GsjwgdosvALT+QlQ81AZ0pX7sep0wOuvblE/PJP6T7S3gvE4euFzYLwHMNNG+zawEQ El2AAnzkGYClxyoZwGRiHFClWwGI8dSEEerQ7AxJi5tY0jzkkR2xMFyzAJJ8IBPh10sDECQf+SU2 wz4hJRaUEIh2M56uqz39KgDl8YGAC3CkNKsIi+RwLBXH9oKADra+WkQ+T4+wFijdyvd0O/GkWTk7 f+uz+f/TOnSyxN2GT+zKQab80vqrr55ew9I6DB6PsIk/s4UPnOlulod+k36QIx6y+SqwnafCFHqV i54e6VCI+UYqezkiUuuA0MIH5QmoFe6t7KhFAKaIj6N7FdDsBTlRCTiQGBPtI34rkn+z4Mj6poTO /ahwpFLVGyxSi/UIgj2NqIdyBzAfQkqxhpA0ahprMd/6qFAHOhyrV1YiSgLLR4t4IKlz+Dtb8xDY CzgI4AxosZVGEKe6VxSwb5RLDwO2o7W5pWEGw2vN+pCEADa54A07JF0AGEO6OzgCIHeoHwiPlb8R xm4aSzDGdEwxxMuVTGjjeF3wpgOQLAmxBv64RgQRsr6zkJwwDUC84NMm9yo1OWKGoFCiAlJhmABM gQ36e2J69rE5pTHEemjixguJEsPIcWcahxGBf8i3CAGggIk/yBUzFOdB2FXuHnGMY+VyYMMGDE8A 88AGoNZIOuI8DQIzFIIV+/SAQRXCAJPKUCxJQLSqkeCDgMCDWuKUhBksYAC/hIJGLkgebCAACtig ZR5qWctUvMc3I6gaC4hWg/OEJBVsiObR/OAihCSAJan4pR9mwJkGhAAAOw== ------=_NextPart_000_0062_01C52BA4.369CBE00--
