Airline shares jump on Continental traffic data

No. 4 U.S. airline Continental, which announced a merger with United Airlines last month, said its mainline unit revenue rose between 22.5 percent and 23.5 percent in May.

The carrier said consolidated unit revenue, which includes the performance of its feeder airlines, rose as much as 24 percent, besting a 17 percent forecast from some analysts.

The beat was due to higher-than-expected fares, a rebound in higher-fare-paying business travelers, and fare surcharges put in place during peak travel days, CRT Capital Group LLC analyst Michael Derchin wrote in a research note.

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- Posted: 2010-06-02 11:33:47

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