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Continental Airlines has posted a second quarter net income of US$228 million, which includes a special charge of $7 million for pilot pension plan settlement charges.
Excluding the settlement charges, the airline recorded a net income of $235 million, an increase of 13 per cent compared to the same period last year.
This is said to be the best second quarter pre-tax profit that the company has posted since 2000. The performance was driven by strong international revenue growth, particularly in the trans-Atlantic market.
Continental's second quarter operating income was $263 million, up 7.8 per cent year on year.
Through June 30, the company has accrued $92 million for its current year profit sharing pool, a $32 million increase over the same six-month period last year.
Second quarter passenger revenue amounted to $3.4 billion, an increase of 5.2 per cent compared to the same period in 2006, led by strong international revenue growth.
During the quarter, Continental announced a strategic relationship with China Southern Airlines, the largest airline in China, for extensive code sharing beginning in November.
The airline also ordered four additional 737NG aircraft from Boeing for delivery in 2010 and moved six 737NG aircraft scheduled for delivery in 2009 to 2010 during the second quarter. The company now has a total of 64 Boeing 737s and 25 Boeing 787s on firm order, with options for another 92 Boeing aircraft |
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