Friday, September 3, 2010             Facebook    Twitter     LinkedIn

GroundSupportWorldWide.com |

Online Article Page

  

News

Continental Posts 4Q Profit
AP Airlines Writer



Big U.S. airlines have been hit hard by the recession, which led to a slump in traffic in the U.S. and on trans-Atlantic routes. Continental's surprising profit comes a day after American Airlines said international bookings were running ahead of last year's pace and high-paying customers may be returning, raising hopes for a recovery in travel.

Continental and other airlines have also been helped by fees for checking baggage and other services, which made up for some of the decline in ticket revenue. This month, Continental raised its checked-bag fees.

The fourth-quarter profit provided an upbeat ending to Continental's second straight money-losing year.

For all of 2009, Continental lost $282 million, or $2.18 per share, as revenue plunged 17.4 percent, to $12.59 billion.

The company includes Continental Express and Continental Connection commuter airlines.

There was little premarket activity in Continental shares, which closed 19 cents higher Wednesday at $20.62.


Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.