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Continental Reports $2m Profit After Charge  
User currently offlineYUL332LX From Canada, joined Feb 2004, 820 posts, RR: 1
Posted (10 years 3 months 5 days 20 hours ago) and read 2051 times:

Here's a report:

Continental Airlines became the first of the US legacy airlines to nudge profitability when it reported a net profit from operations of $2m after excluding a one-off $19m charge for the retirement of old aircraft, ahead of analysts' expectations.

Gordon Bethune, chief executive, called the results disappointing and blamed the continued high cost of fuel and price competition, which led yields on its mainline routes to fall 1.6 per cent in the quarter
...
The high taxes and fuel pushed up Continental's costs per available seat mile by 8.7 per cent to 9.42 cents from 8.67 cents. Delta, however, reported a higher cost structure. Its costs rose 9.7 per cent to 10.88 per available seat mile.


Source: http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1087373844315&p=1012571727108


E volavo, volavo felice più in alto del sole, e ancora più su mentre il mondo pian piano spariva lontano laggiù ...
5 replies: All unread, jump to last
 
User currently offlineDrerx7 From United States of America, joined Jun 2000, 5192 posts, RR: 8
Reply 1, posted (10 years 3 months 5 days 20 hours ago) and read 2020 times:

I believe the $2 million profit is before the charge. So for this quarter there was a $17 million dollar loss.


Third Coast born, means I'm Texas raised
User currently offlineHighliner2 From United States of America, joined Nov 2000, 696 posts, RR: 2
Reply 2, posted (10 years 3 months 5 days 16 hours ago) and read 1938 times:

Yeah, I listened in on the conference call this morning, the loss was because of the costs associated with returning the MD80s. They still sounded awfully disappointed with the results, however, I'm still predicting that they may be one of, if not THE best quarterly results for any of legacies. AA's come out tomorrow I believe, be interesting to see how they did. I've heard they may actually have a shot at a profit this quarter but that's just rumor so who knows. For those who have never listened to a earnings conference call I strongly recommend it, very insightful, especially when you get to hear Bethune use one of his metaphors. I believe my favorite one today was "if your gonna cut the tail off a dog, do it only once" referring to the labor negotiations I believe. He also really opened my eyes to how high the taxation of the industry is, even as the gov't is giving these 'bailouts', sounds like they're taking way more than they're giving, really opened my eyes. Go CO!


Go Cubs!
User currently offlineWhitehatter From , joined Dec 1969, posts, RR:
Reply 3, posted (10 years 3 months 5 days 16 hours ago) and read 1920 times:

In the current climate, with fuel and insurance at all-time highs, it isn't such a bad performance at all. Insurance is a big item at the moment, still at a considerable premium over pre-911 days.

At least CO isn't deeply in red ink. The summer should reverse that.


User currently offlineA330323X From United States of America, joined Oct 2003, 3039 posts, RR: 44
Reply 4, posted (10 years 3 months 5 days 16 hours ago) and read 1915 times:

I'm still predicting that they may be one of, if not THE best quarterly results for any of legacies. AA's come out tomorrow I believe, be interesting to see how they did. I've heard they may actually have a shot at a profit this quarter but that's just rumor so who knows.

Not many people agree with me, but I think US is likely to post a small profit for the 2nd quarter.



I'm the expert on here on two things, neither of which I care about much anymore.
User currently offlineMAH4546 From Sweden, joined Jan 2001, 33041 posts, RR: 71
Reply 5, posted (10 years 3 months 5 days 16 hours ago) and read 1879 times:

I'm still predicting that they may be one of, if not THE best quarterly results for any of legacies. AA's come out tomorrow I believe, be interesting to see how they did. I've heard they may actually have a shot at a profit this quarter but that's just rumor so who knows.

Some are saying AA will show a very small profit, though the general consensus is, profit or not, their results will show signs of their financial state improving greatly.



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