Volcano ash reduced Continental revenue

Hicran
May 4, 2010

Continental Airlines  said that its April revenue fell by $24 million after a volcano eruption in Iceland disrupted transatlantic and Europe flights.

Nonetheless, the Houston carrier saw passenger unit revenue growth for the month, an industry metric for gauging future profit. For April, Continental said its passenger unit revenue grew an estimated 12% to 13% from the same month last year.

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Continental estimates that the reduced flying from volcanic ash impacted April unit revenue by one percentage point. In March, unit revenue grew 13.4%. Shares of Continental closed Monday at $22.86, up 2.3%, after it announced its intention to merge with United parent UAL Corp.