Continental Airlines posts $266 million 4Q loss

[January 29, 2009]  DALLAS (AP) -- Continental Airlines Inc. lost $266 million in the fourth quarter as the recession bit into traffic, and fuel and labor costs increased.

The Houston-based airline said Thursday it lost $2.33 per share, compared with a loss of $32 million, or 33 cents per share, a year ago.

Excluding net charges of $170 million, Continental's loss would have been $96 million, or 84 cents per share. Analysts surveyed by Thomson Reuters, who usually don't include one-time charges, expected a loss of 89 cents per share.

Revenue slipped 1.5 percent to $3.47 billion.

[Associated Press]

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