Continental Airlines reported a 2008 net loss of $585 million, excluding $234 million of previously announced special items, Continental recorded a net loss of $351 million for the year. Weakening economic conditions and highly volatile fuel prices presented financial challenges for the airline in the fourth quarter 2008. Continental recorded a fourth quarter net loss of $266 million, excluding $170 million of previously announced special items, Continental recorded a fourth quarter net loss of $96 million.
For the full year 2008, jet fuel prices exhibited significant volatility, reaching record high levels and dramatically increasing costs over 2007. Consolidated fuel cost totaled $5.9 billion in 2008, a $1.9 billion increase over 2007, with mainline fuel cost totaling $4.9 billion, a $1.6 billion increase over 2007.
