Investopedia -- Continental Airlines (NYSE:CAL) reported a first quarter loss, but some on Wall Street were cheered because the losses were not as substantial as predicted. Following on the heels of losses from Delta (NYSE:DAL) and United (Nasdaq:UAUA)and last week's dismal figures from American Airlines (NYSE:AMR), Continental joins the major carriers that are flying through clouds of red ink. Southwest Airlines (NYSE:LUV) experienced close to flat earnings in the first quarter, nearly bucking the trend. But many on Wall Street think investors should take a closer look at the earnings trends and the business conditions of the fliers.
