Continental profit US$233 million in the second quarter

HOUSTON's Continental Airlines reported a profit of US$233 million in the second quarter suffering a net loss of $146 million in the previous quarter.

Net income minus costs related to the merger with United Airlines and other special charges was $257 million. Operating income stood at $328 million drawn on revenues of $3.7 billion, up 18.6 per cent year on year.

Said Continental CFO and vice president Zane Rowe: "These results represent another quarter of strong operational performance and cost control by the entire Continental team. While there is still a lot of work ahead to sustain profitability, we are pleased with this quarter's results."

Merger partner United Airlines last week reported a second quarter net profit of $430 million.

Continental cargo revenue increased 35.4 per cent year on year to $29 million as freight volume grew while passenger revenue increased 19.7 per cent to $544 million.

Second quarter consolidated revenue passenger miles (RPMs) grew two per cent but capacity (available seat miles, ASMs) remained unchanged over the previous year, producing an unprecedented second quarter consolidated load factor of 84.6 per cent.

Consolidated yield was up 17.3 per cent, consolidated load factor grew by 1.9 point and consolidated passenger revenue per available seat mile (RASM) soared 19.9 per cent.

Mainline yield increased 16.3 per cent, mainline load factor was up 1.8 points to a record 85 per cent, mainline RASM grew 18.8 per and mainline RPMs was up 1.5 per cent as mainline capacity dropped 0.7 per cent over the second quarter of last year.

Mainline cost per available seat mile (CASM) grew by 3.9 per cent against an 8.7 per cent increase in mainline fuel prices but a 1.1 per cent year-on-year slide in mainline fuel consumption and 0.7 per cent drop in mainline capacity. Mainline CASM increased 2.2 per cent. 
(Source:www.schednet.com)