Continental Airlines Inc. on Thursday reported a narrower quarterly loss, even as high jet fuel prices took a heavy toll on its business.
The Houston-based No. 5 U.S. airline said its first-quarter loss amounted to $124 million, or $1.88 a diluted share, compared with a loss of $221 million, or $3.38 a share, a year earlier.
Excluding after-tax charges of $35 million, Continental's loss was $1.36 a share. On that basis, analysts had expected Continental to post a loss of $1.39 a share, with loss estimates ranging from $1.20 to $1.70 a share, according to Reuters Research, a unit of Reuters Group Plc.
Continental ended the first quarter with $1.6 billion in cash and short-term investments.