Business News

Continental loses 80 million dollars in Q1, cites higher fuel costs

Apr 17, 2008, 11:33 GMT

New York - US airline Continental Airlines Inc. reported Thursday that it lost 80 million dollars in the first quarter of 2008, citing rising fuel costs for the downturn. The loss compares with a profit of 22 million dollars in the first quarter of last year, and came despite a 12 per cent rise in revnues, to 3.57 billion dollars in this year's first three months. The Houston, Texas-based company said its fuel costs in the first quarter soared by 53 per cent, or 364 million dollars, in the quarter to cut into its earnings performance. The airline had already begun slipping into the red in the final quarter of 2007, though it managed to show a profit for the full year.

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Business News

Continental loses 80 million dollars in Q1, cites higher fuel costs

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