Heavy Loss Ahead


Aug 19, 2002
In its recent filing with the SEC, CO stated it expected a Huge loss for 2003. CO reports they are burning thru 1.5 Million daily, Debt is way up and if the market does not improve CO will not be able to maintain its current size. Remember that CO has already been in BK twice and it is not an option. Here's the link....http://biz.yahoo.com/rb/030213/airlines_continental_filing_4.html
The law for bankruptcy was changed after CO filed and reorganized. They are still eligble to file 2 more times.
This is from a second article about the 10-K filing:

Continental is expected to post a loss of $2 a share for the first quarter and $2.15 a share for 2003, according to a survey of 11 analysts by Thomson First Call

Taken from: http://biz.yahoo.com/djus/030213/1839001129_1.html

Looks like bad first quarter (not unusual), but then just about break even for the rest of the year. These statements also show a worst case scenario, which is unlikely.
Hope 777,

Chap.11 is a option, we can can enter BK. just like every other airline is doing. Great for us, "doh"...
They are still eligble to file 2 more times.

Wow, 4 opportunities to get it right via bankruptcy!