Ex737Driver
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UPDATE 1-Continental Airlines ups 1st-qtr cash outlook
Thu Feb 23, 2006 9:45 AM ET
(Adds background, detail)
NEW YORK, Feb 23 (Reuters) - Continental Airlines Inc. (CAL.N: Quote, Profile, Research) on Thursday raised its first-quarter outlook for cash and short-term investments to between $1.9 billion and $2.0 billion from a prior range of $1.8 billion to $1.9 billion.
Last:$23.31Change:+0.43Up/Down:+1.88%
"Things are looking a little better, so we're revising that guidance to $1.9 to $2.0 billion," Continental Chief Financial Officer Jeff Misner told analysts at a conference.
Continental shares were up 32 cents, or 1.4 percent, at $23.22 in early trading on the New York Stock Exchange.
During the same presentation, Continental's President Jeff Smisek poured cold water on recent speculation that the No. 5 U.S. airline could consider a merger.
"We have a very strong preference at Continental to remain independent," Smisek said, adding that the airline has an organic growth target of 5 to 7 percent in the next few years.
"A consolidation transaction disturbs all of that in a way that could cause irreparable harm," he said.
Thu Feb 23, 2006 9:45 AM ET
(Adds background, detail)
NEW YORK, Feb 23 (Reuters) - Continental Airlines Inc. (CAL.N: Quote, Profile, Research) on Thursday raised its first-quarter outlook for cash and short-term investments to between $1.9 billion and $2.0 billion from a prior range of $1.8 billion to $1.9 billion.
Last:$23.31Change:+0.43Up/Down:+1.88%
"Things are looking a little better, so we're revising that guidance to $1.9 to $2.0 billion," Continental Chief Financial Officer Jeff Misner told analysts at a conference.
Continental shares were up 32 cents, or 1.4 percent, at $23.22 in early trading on the New York Stock Exchange.
During the same presentation, Continental's President Jeff Smisek poured cold water on recent speculation that the No. 5 U.S. airline could consider a merger.
"We have a very strong preference at Continental to remain independent," Smisek said, adding that the airline has an organic growth target of 5 to 7 percent in the next few years.
"A consolidation transaction disturbs all of that in a way that could cause irreparable harm," he said.
