Continental, Southwest Beat Profit Estimates on Fuel |
BusinessWeek - Jan 21, 2010 |
Continental Airlines Inc. and Southwest Airlines Co. posted fourth-quarter earnings that exceeded analysts’ estimates as lower fuel spending made up for reduced fares to lure travelers.
Continental, the fourth-biggest U.S. carrier, had a profit excluding one-time items of $4 million, or 3 cents a share, beating the average projected loss of 7 cents. Southwest, the largest discounter, had a profit on that basis of $74 million, or 10 cents, topping the 6-cent estimate.
Declines in jet-fuel expenses of 32 percent at Continental and 14 percent at Southwest helped the airlines as ticket prices tumbled after a recession kept higher-fare business travelers home. Continental’s profit ended eight consecutive quarterly losses, while Southwest returned to profit after deficits in four of the past five quarters.
Read Full Article from BusinessWeek
- Posted: 2010-01-21 10:56:32
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