User avatar
lindy field
Posts: 2939
Joined: Tue Mar 27, 2001 1:52 pm

Continental's Third Quarter Loss $37 Million

Thu Oct 17, 2002 8:55 pm

PRNewswire is reporting this morning:

HOUSTON, Oct. 17 /PRNewswire-FirstCall/ -- Continental Airlines
(NYSE: CAL) today reported a third quarter net loss of $37 million
($0.58 diluted loss per share), which compares favorably to the First Call
estimate of $0.74 loss per share, while generating operating income of
$46 million for the quarter.
"Winning is defined as outperforming your competition and we clearly
have," said Gordon Bethune, Continental Airlines' chairman and chief executive
officer. "Continental Airlines has led all major hub and spoke airlines in
every respect. Although our industry's future remains uncertain, our team is
best positioned for success."
Continental would have made a profit in the third quarter but for
burdensome security costs, taxes and revenue opportunity restrictions imposed
by the federal government since Sept. 11, which reduced operating income by
approximately $65 million in the quarter. In addition, war risk and other
insurance costs increased $20 million over third quarter 2001.

For the rest of the article, see:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-17-2002/0001821239&EDATE=

Interesting that Continental's losses are so much lower than American's or Delta's. It doesn't seem like it would take too much for them to be back in black. I'd guess that further cuts at Continental will be much more modest than those at its competitors.


View Large View Medium
Click here for bigger photo!

Photo © Tony Zeljeznjak


 
Notar520AC
Posts: 1517
Joined: Sat Jul 21, 2001 6:53 am

RE: Continental's Third Quarter Loss $37 Million

Thu Oct 17, 2002 11:25 pm

Yeah, Delta reported $330 million in losses. That's a lot of money gone.
BMW - The Ultimate Driving Machine
 
jcs17
Posts: 7376
Joined: Mon Jun 18, 2001 11:13 am

RE: Continental's Third Quarter Loss $37 Million

Thu Oct 17, 2002 11:40 pm

A $37 million dollar loss is really nothing much this day in age. Nice job Gordon. He really knows his stuff, except for the fact that his 777s are the most uncomfortable planes in the sky!
America's chickens are coming home to rooooost!
 
SQ325
Posts: 1274
Joined: Wed Jul 18, 2001 7:54 pm

RE: Continental's Third Quarter Loss $37 Million

Fri Oct 18, 2002 12:57 am

Maybe the smaller majors like CO and NW will ´become winners out of this crisis! Especially CO seems to have an excellent crisis managment!
I still see DLs situation not that bad. DL is a huge Airline that earned mrd of dolars in the last years!
Anyhow great news for CO!
 
SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

RE: Continental's Third Quarter Loss $37 Million

Fri Oct 18, 2002 1:26 am

Good for Continental. Hardly a loss at all.
Anyone can fly, only the best Soar.
 
artsyman
Posts: 4516
Joined: Wed Feb 28, 2001 12:35 pm

RE: Continental's Third Quarter Loss $37 Million

Fri Oct 18, 2002 3:17 am

Continental actually had a pre-tax profit this quarter, what forced them into the loss was the extra government security taxes they were burdened with. Before security taxes and burdens, Continental reported a profit of 5 cents per share, or 46 million.

While all RASMS, CASMS and the like were down for Domestic, Transatlantic was up 12.9%

Well done CO

Jeremy
Ps, Southwests profit was down 50% this quarter, but well done to them too for still remaining in the black
 
matt777
Posts: 476
Joined: Wed Oct 24, 2001 8:55 am

RE: Continental's Third Quarter Loss $37 Million

Fri Oct 18, 2002 3:24 am

Hi, I think this is mainly due to the fact that they only have 3 types of airplanes (737s, 757-767 and 777s) They are very common between them, leading to lower operating costs.
Good news from Continental, this is hardly a loss. This third quarter can be looked as a break-even one...IMHO.

Regards from Argentina
Matt Vivaldi.  Big thumbs up
 
swaluvfa
Posts: 256
Joined: Fri May 17, 2002 1:59 pm

RE: Continental's Third Quarter Loss $37 Million

Fri Oct 18, 2002 4:23 am

Don't they have the MD80 also? Or have they gotten rid of that one. Anyway, GREAT JOB CONTINENTAL!!  Smile
 
Guest

RE: Continental's Third Quarter Loss $37 Million

Fri Oct 18, 2002 12:26 pm

Gordon got his bonus from the looks of it...

Who is online

Users browsing this forum: ANA787, astuteman, B6FA4ever, Bing [Bot], Boof02671, Bourkky, DC1979, dlflynhayn, FAST Enterprise [Crawler], hayzel777, hkcanadaexpat, iuwnaa, johnberg, JPhoto, kabq737, lhpdx, MavyWavyATR, qf789, RL777, TheF15Ace, ttm, usxguy and 155 guests