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.