Continental Airlines Posts $198 Million Profit

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Jul20

Continental Airlines Posts $198 Million Profit

Rob Willers

Know More: Continental Airlines 2.0, Continental Airlines

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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"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to 50 regional jet aircraft that Continental expects a third party to acquire and operate to partially replace the 69 withdrawn ExpressJet aircraft, and two Boeing 777 aircraft that Continental will take delivery of in early 2007, Continental will not take any new aircraft deliveries in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).

related entries

Continental Airlines Applies for European Cities Under New Open Skies Agreement Mar 22, 2007
Continental Airlines Fires Pilot After Drinking Jul 26, 2006
Continental Airlines Selects Republic Airways for ExpressJet Service Jul 21, 2006
Houston's Bush Interncontinental Airport Sees 9% Jump in Traffic Due to Continental Airlines Jun 14, 2006
Continental Airlines Orders $3 Billion in Aircraft Jun 11, 2006

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