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Wednesday, October 21, 2009
Continental Airlines Loss Narrows To $18 Million
By Steve Goldstein
MarketWatch Pulse
LONDON -- Continental Airlines reported a narrower third-quarter loss of $18 million, or 14 cents a share, after losing $230 million in the year-earlier quarter. Revenue fell 20% to $3.32 billion. The airline said it's hurt by significant declines in high-yield traffic but mainline costs per available seat miles dropped 21.1% as jet fuel prices fell. Excluding $20 million in charges, it earned 2 cents a share. Analysts polled by FactSet had expected a profit of 4 cents a share.
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