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Continental Airlines posts 2Q loss

Continental Airlines posts 2Q loss

Continental Airlines posted a big loss for the second quarter as traffic fell, and the carrier says it will cost 1,700 jobs and raise the fee for checking luggage.
The Houston-based airline said Tuesday it lost $213 million, or $1.72 per share in the quarter that ended June 30, compared with a loss of $5 million, or 5 cents per share, a year earlier.
Excluding one-time charges, the loss was $169 million, or $1.36 per share. Analysts expected a loss of $1.35 per share excluding charges.
Revenue tumbled 22.7 percent, to $3.13 billion.
The company said it would cut jobs and raise by $5 each the fees for checking a first bag and booking a reservation over the phone.