Continental Crash Course (18 million in the red)
Continental Airlines (NYSE: CAL) revealed optimistic news even after posting a $0.14 cents per share loss and revenues dropping 20.2% for the third quarter. Although the numbers are grim Continental is not in such bad shape as the book cover details. Overall the airline industry is sluggish with business travel down and current travelers searching for the cheapest fares shying away from business and first class. According to Continental a $2 million earnings was possible except the company had to settle severance payments and write-downs.
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Continental Airlines (NYSE: CAL) engages in the transportation of passengers, cargo, and mail. As of December 31, 2008, the company owned or leased 350 mainline jets and 282 regional aircraft. http://www.continental.com/web/en-US/default.aspx
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