Continental Airlines Inc. reiterated Wednesday that it expects to post a "significant loss" for the first quarter.
In a Securities and Exchange Commission filing, the air carrier said mainline advanced bookings have so far trailed last year's quarter, as customers began booking closer to their travel dates. But Continental added that it "is comfortable the gap will close."
If that happens, the airline's seat occupancy will be about flat year over year.
The airline said it expects domestic occupancy to be up slightly from the prior-year period on a 5.5 percent increase in capacity. However, trans-Atlantic seat occupancy is expected to decline modestly on 22.5 percent growth in capacity.
Total occupancy, or load factor, is pegged at 77 percent to 78 percent in the first quarter. Total capacity, or available seat miles, is expected to rise 10.5 in the quarter.
The airline estimates it paid an average of $1.90 per gallon for fuel during the period and expects to pay about $2.03 per gallon for fuel this year.
Continental targets quarterly revenue from cargo, mail and other operations at $255 million.
Analysts polled by Thomson Financial expect the company to post a first-quarter loss of 98 cents per share.
Shares of Continental added 39 cents to $24.34 in afternoon trading on the New York Stock Exchange.
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In a Securities and Exchange Commission filing, the air carrier said mainline advanced bookings have so far trailed last year's quarter, as customers began booking closer to their travel dates. But Continental added that it "is comfortable the gap will close."
If that happens, the airline's seat occupancy will be about flat year over year.
The airline said it expects domestic occupancy to be up slightly from the prior-year period on a 5.5 percent increase in capacity. However, trans-Atlantic seat occupancy is expected to decline modestly on 22.5 percent growth in capacity.
Total occupancy, or load factor, is pegged at 77 percent to 78 percent in the first quarter. Total capacity, or available seat miles, is expected to rise 10.5 in the quarter.
The airline estimates it paid an average of $1.90 per gallon for fuel during the period and expects to pay about $2.03 per gallon for fuel this year.
Continental targets quarterly revenue from cargo, mail and other operations at $255 million.
Analysts polled by Thomson Financial expect the company to post a first-quarter loss of 98 cents per share.
Shares of Continental added 39 cents to $24.34 in afternoon trading on the New York Stock Exchange.
Yahoo
