Business
Continental backed away from the numbers
Houston | May 09, 2008 12:01:13 AM IST
Continental Airlines Inc.'s decision to forgo any merger was a decision based on big numbers, a source close to the company said. United Airlines, Continental's No. 1 suitor, provided those numbers by posting losses of $500 million in the first quarter of 2008, Crain's Business Journal reported Tuesday. You run that out six, eight quarters, that's a ton of losses, the source said. We would have loved to have been able to do it. The route structure is just tremendous, the source said. But the numbers proved too big. Continental sent a letter to its 45,000 employees Monday saying the board would not consider a merger. Continental lost $80 million in the first quarter, Crain's reported. (UPI)
60 per cent voting recorded in second phase of Karnataka polls Fire in Sodepur garments shop, 12 dead Second phase of polling in Karnataka ends Theft at Taj Mahal, close circuit TV cameras go missing 12 underground cadres killed in a factional clash in Nagaland Tibetans in India prepare for \'Olympics\' with sporting spirit sans hatred Scientists demand new modeling facility for providing better climate predictions Supreme Court stays Calcutta High Court order on OBC quota
| 
