'Continental Airlines plans to exit the SkyTeam alliance with Delta Air Lines, Air France and others after its last flight Oct. 24 and join the rival Star Alliance shortly thereafter, CEO Larry Kellner said today.
Kellner said the transition to Star, the world’s biggest alliance led by United Airlines and Lufthansa, will be a major focus for the carrier this year. The October date jibes with Houston-based Continental’s previously announced plan to begin new service to Frankfurt, Lufthansa’s global hub, on Nov. 1.
Continental also is slated to begin a separate ticketing and cost-sharing partnership with United during the fourth quarter. The two carriers announced that deal, which still requires regulatory approval, shortly after the merger between Delta and Northwest Airlines was announced last year.
Kellner's statements came on a conference call after Continental reported that it lost $266 million in the fourth quarter as the recession bit into traffic.
Continental lost $2.33 per share, compared with a loss of $32 million, or 33 cents per share, a year ago.
Excluding net charges of $170 million, Continental’s loss would have been $96 million, or 84 cents per share. Analysts surveyed by Thomson Reuters expected a loss of 89 cents per share.'
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By: B77W - 30th January 2009 at 22:42
'Continental Airlines plans to exit the SkyTeam alliance with Delta Air Lines, Air France and others after its last flight Oct. 24 and join the rival Star Alliance shortly thereafter, CEO Larry Kellner said today.
Kellner said the transition to Star, the world’s biggest alliance led by United Airlines and Lufthansa, will be a major focus for the carrier this year. The October date jibes with Houston-based Continental’s previously announced plan to begin new service to Frankfurt, Lufthansa’s global hub, on Nov. 1.
Continental also is slated to begin a separate ticketing and cost-sharing partnership with United during the fourth quarter. The two carriers announced that deal, which still requires regulatory approval, shortly after the merger between Delta and Northwest Airlines was announced last year.
Kellner's statements came on a conference call after Continental reported that it lost $266 million in the fourth quarter as the recession bit into traffic.
Continental lost $2.33 per share, compared with a loss of $32 million, or 33 cents per share, a year ago.
Excluding net charges of $170 million, Continental’s loss would have been $96 million, or 84 cents per share. Analysts surveyed by Thomson Reuters expected a loss of 89 cents per share.'
Source: www.chron.com