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Continental: We’ve Got Cash Problems

Continental made its most dire financial announcement so far yesterday, saying that if it does not receive $500 million in wage cuts by February 28th, that the airline may run out of cash.  This is much worse than what we’ve heard before, especially as Continental was seen as a glimmer (albeit faint) of hope for legacy carriers.  This news, of course, puts their recent 7E7 order in jeopardy, as well as the self-proclaimed meals-at-mealtime on flights. 

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