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Continental sees heavy loss this year from fuel price hikes

Continental Airlines repeated earlier warnings that it expects to post "a significant loss for 2005 due to record high fuel prices" in spite of improving unit revenue trends and savings from pay and benefit reductions estimated at $300 million this year. The information was contained in a letter to shareholders included in a government filing last week. The company earlier estimated that mainline passenger RASM rose 4%-5% in August compared to the year-ago period following a 4.6% ...

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