Continental Leads Airlines Higher on December Revenue, Traffic

Continental Airlines Inc. rose to its highest in almost a year in New York trading and led a rally among major U.S. carriers after reporting that December unit revenue fell the least in 11 months.

Revenue in its main jet operations for each seat flown a mile dropped as much as 5.5 percent from a year earlier, the smallest decline since January 2009, the Houston-based airline said in a statement yesterday. Its passenger traffic last month increased 6.3 percent, the largest gain since September.

The fourth-largest U.S. carrier’s results “confirm that airline revenue trends continue to strengthen sequentially,” William Greene, a Morgan Stanley analyst in New York, wrote in a note to clients. He rates Continental shares “overweight.”

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- Posted: 2010-01-05 10:54:09

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