In 2008, the U.S. carrier Continental Airlines reported a net profit of 343 million dollars, which constitutes a substantial improvement over net loss of $ 68 million recorded in the previous year. Net income for 2008 included a gain of $ 92 million from the sale of a part of Continental's investment in the Panamanian airline Copa Airlines.
Last year was not easy for Continental Airlines, the rise in aviation fuel prices accounted for an additional cost of more than 510 million dollars over the previous year.
However, the company has had an iron discipline in controlling costs (saved 2,000 million dollars in its cost structure, and $ 500 million in wages), and improved fuel efficiency almost 25 percent per available seat mile compared to 1998, thanks to its policy of modernization fleet, the introduction of improved operating procedures and implementation of fuel saving technologies such as winglets and 3D Aero blades in the compressor General Electric GE90 engines for its fleet of Boeing B-777.
As was the year for Continental Airlines
The cost per seat-mile rose 3.3 percent last year compared to 2007. Nevertheless, thanks to the installation of winglets on its entire fleet of Boeing B-757-200 (41) and fleet modernization program that remains in force, has managed to significantly reduce one of its operating costs most sensitive oil.
This plan will be further strengthened during this year as they begin to install winglets on 37 of its B-737-500 and 11 of the B-737-300. For all of this. Continental ended the fourth quarter with approximately 2.480 million dollars in cash and short-term investments, a figure unthinkable for a U.S. airline after 11-S.
The company deposited about U.S. $ 1.112 million in 2006, including, in the fourth quarter, $ 200 million in unsecured promissory notes to 8.75 percent that had expired in December 2011.
Another major achievement is that it reduced its debt payments and rental of aircraft planned for this year from 937 million to only $ 358 million.
to this is the implementation of interline electronic ticket (the airline has agreements with 60 other companies), a booking service faster and easier through its website, as well as the expansion of ticketing mail on their main destinations.
According to Pete Garcia, vice president for Latin America at Continental Airlines, "Our goal is to continue investing to buy modern aircraft and more efficient. Our load factor is more than 81 percent. "
In addition, the company was able to weather the income of low-cost airlines in the U.S. market, which for a few companies in this sector remains a major headache.
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