NEW YORK (Standard&Poor's) Oct. 19, 2005--Continental Airlines Inc. (B/Negative/B-3) reported a $61 million net profit in the third quarter of 2005, despite 65% higher fuel expense, due to strong revenue gains and labor concessions implemented earlier in the year. The company disclosed also that it had priced a common equity offering that will raise about $200 million. Standard&Poor's Ratings Services said that these developments do not affect its ratings or outlook on the company. The somewhat better-than-expected operating performance and added liquidity from the equity offering ease concerns regarding substantial upcoming debt maturities ($349 million in the fourth quarter of 2005 and $525 million in 2006). Still, management acknowledges that the company will face a challenge
