Continental Airlines (CAL) reported a fourth quarter net income of $85 million or $0.60 per share versus a loss of $269 million or $2.35 per share a year ago.
Excluding $77 million of special charges, and a $158 million non-cash income tax benefit, the company recorded a fourth-quarter net income of $4 million or $0.03 per share in comparison with a loss of $295 million or $2.28 per share in the prior year.
On average, 9 analysts polled by Thomson Reuters expected loss per share of $0.07 for the quarter. Analysts' estimate typically excludes one-time items.
The company said the fourth-quarter results continued to be adversely affected by declines in high yield traffic due to the global recession.
Total revenue for the fourth quarter of 2009 was $3.2 billion, a decline of 8.3% compared with the same period in 2008. Six analysts estimated revenues of $3.19 billion for the quarter. Passenger revenue for the fourth quarter fell 9.5% compared with 2008 period, due to lower yields.
Consolidated revenue passenger miles or RPMs for the quarter rose 3.5% on a capacity (available seat mile, ASM) decrease of 0.6% year-over-year. Fourth-quarter consolidated load factor was 82.0%, 3.3 points higher than the fourth quarter of 2008.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.