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4-Traders Homepage  >  Equities  >  Xetra  >  Continental AG    CON   DE0005439004

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CONTINENTAL : says new bag fee to generate $100 million

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09/11/2008 | 04:10pm CET

Continental Airlines on Thursday said it expects to see $100 million in revenue and cost savings related to a new $15 dollar fee to check a single bag.

The airline introduced the fee last week, matching those implemented by rivals this year as carriers attempt to offset skyrocketing fuel bills. Continental said in a government filing that the $100 million would be generated through the new revenue as well as cost savings, such as savings associated with not having to check as many bags.

Continental's shares rose 95 cents, or nearly 6 percent, to $17.02 in morning New York Stock Exchange trading.

Continental, which plans to trim its domestic mainline capacity 11 percent in the fourth quarter, said it expects its domestic mainline capacity to be down 2.9 percent in the third quarter.

The airline said it is comfortable with its forward bookings over the next six weeks. Consolidated domestic bookings for the coming six weeks were about 2 percentage points higher than last year, Continental said.

The airline said it has hedged about 53 percent of its expected consolidated fuel needs for the third quarter.

The company expects to end the third quarter with about $2.8 billion in cash and short-term investments.

(Reporting by Kyle Peterson, editing by Maureen Bavdek)

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Financials (€)
Sales 2016 40 505 M
EBIT 2016 4 204 M
Net income 2016 2 806 M
Debt 2016 3 406 M
Yield 2016 2,08%
P/E ratio 2016 13,75
P/E ratio 2017 12,11
EV / Sales 2016 1,03x
EV / Sales 2017 0,95x
Capitalization 38 411 M
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 201 €
Spread / Average Target 4,4%
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NameTitle
Elmar Degenhart Chairman-Executive Board
Wolfgang W. Reitzle Chairman-Supervisory Board
Wolfgang Schäfer Head-Finance & Controlling
Karsten Michels Head-Systems & Technology
Michael Iglhaut Member-Supervisory Board
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