Continental Airlines said it would go it alone and not merge with any another airline, scuttling rumours of a possible hook-up with United Airlines.
Continental chairman and chief executive Lawrence Kellner said the Houston-based airline was better off alone than merging.
The industry is consolidating in the face of soaring fuel costs and other expenses.
Although it reported an $80 million loss in the first quarter, Continental is widely viewed as the second-strongest US carrier in financial terms, behind only Southwest Airline.
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