Quote from Yahoo Finance:
"Continental Airlines Facing Challenges
On Thursday, Continental reported revenue of -$236 million or -$2.14 a share. Analysts were expecting revenue of $4.12 billion or -$1.49 a share. Compared with Southwest this carrier is worse shape with $3.9 billion in
cash and $5.79 billion in debt. Southwest, on the other hand, has $5.8 billion in cash and $2.66 billion in debt. What the recent earnings say about both carriers is that, while financially sound, they are facing the challenges of high fuel prices and a slowing economy. That said both of these carriers have enough cash and low enough debt to overcome their challenges. Shares of Continental were at $12.74 down 10 cents within the first hour of trading and closed the day up $2.91 at $15.75"