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Jul20
Continental Airlines Posts $198 Million Profit
Continental Airlines reported their second quarter results today.  The airline which has been one of the very few airlines to increase domestic capacity this year reported a nearly doubling of their profit over last year.  For this year's second quarter Continental Airlines reported a $198 million dollar profit whereas last year they earned $100 million dollars. 
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continental_neu4.jpg"Our plan is working and as a result, everyone wins," said Larry Kellner, chairman and chief executive officer. "Employees win with profit sharing and stock option gains, customers win with award winning service as reflected by the J.D. Power award and stockholders win with profitability."

Other than the 40 to 50 regional jet aircraft that Continental expects a third party to acquire and operate to partially replace the 69 withdrawn ExpressJet aircraft, and two Boeing 777 aircraft that Continental will take delivery of in early 2007, Continental will not take any new aircraft deliveries in 2007. As a result, the carrier anticipates growing its mainline capacity approximately 5 percent and its consolidated capacity between 3 percent and 4 percent in 2007.

Yahoo! News


Continental Airlines (CAL) was down in mid-day trading to $30.03 (down $0.53). 

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