Continental Forecasts ‘Significant Loss’
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Continental Airlines Inc., the fifth-largest U.S. carrier, forecast a “significant loss” in 2004 and 2005 after posting a third-quarter loss of $16 million on higher fuel costs and competition with low-cost carriers. The airline “may be forced in the very near term” to ask for worker concessions, Chief Executive Gordon Bethune told analysts.
Houston-based Continental said its third-quarter net loss was 24 cents a share, contrasted with year-earlier net income of $133 million, or $1.83.
Sales rose 8.4% to $2.56 billion.
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