Continental figures fly as traffic surges
CONTINENTAL AIRLINES saw a double digit growth in revenue after the carrier experienced an increase in passenger traffic and reduced its capacity.
The airline reported an 18 per cent hike in revenue to $3.7bn (£2.42bn) during the last three months, while passenger revenue rose 19.7 per cent to $544m.
Continental, which is set to merge with United Airlines, said it had filled 85 per cent of its planes, at the same time cutting capacity by 0.7 per cent.
Excluding the $24m in merger costs, net income for Continental came to $257m during the quarter, placing the airline back into profitability.
Continental paid staff members an extra $6m in cash for on-time incentives.