It’s payday for Continental Airlines. The Houston based airline company said Thursday it’ll get a 413 million dollar initial payment under it’s co-branded credit card deal with Chase Bank USA.
The payment will add more cushion as the airline prepares to book severance and other charges in the coming months. Continental says the credit card deal with Chase will extend until 2016. Of the initial payment, 235 million dollars will cover the advance purchase of frequent-flyer-mileage credit cards.
Including fuel taxes and hedges, the carrier predicts to spend an average of $3.45 per gallon on fuel this year, and a penny more per gallon during the second quarter.
Continental also says it expects to have between 3.2 billion and 3.3 billion dollars in cash on hand at the end of the second quarter.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.