Continental reveals $111mn profit share

Continental Airlines will distribute $111 million in profit sharing to employees on Valentine’s Day.“When we work together, we win together, and my co-workers are sharing Continental’s success through profit sharing,” Continental Chairman and CEO Larry Kellner said. “We all worked together in 2006 to deliver solid financial and operational results, and my co-workers will now receive $111 million in cash as a result of the best profit sharing program in the industry.”

The carrier recorded net income of $343 million in 2006. This marks the first Continental profit sharing payment since the payment for the 2000 results. The $111 million distribution is both the highest of any U.S. carrier this year and the highest profit sharing distribution in Continental’s history.

Kellner will hand out profit sharing checks tomorrow at the airline’s hub at Newark Liberty International Airport, while President Jeff Smisek will distribute profit sharing to the airline’s employees at the company’s Bush Intercontinental Airport hub and other Houston locations. Continental’s Airport Services Senior Vice President, Bill Meehan, will present profit- sharing to Continental’s employees at the airline’s hub at Cleveland Hopkins International Airport. Other Continental officers will travel to many other locations throughout the Continental system to distribute profit sharing.