NEW YORK (Standard&Poor's) Jan. 6, 2005--Continental Airlines Inc. (B/Negative/--) said in a filing with the SEC that failure to achieve $500 million of labor cost concessions by the Feb. 28, 2005, target date "could ultimately result in the company having inadequate liquidity to meet its obligations." Standard&Poor's Ratings Services said its ratings and outlook on the company are not affected, but achievement of substantially all of the anticipated labor concessions is crucial to maintaining current ratings. Management is in the midst of a campaign to persuade employees of the necessity of labor cost reductions, an effort that acquired further urgency with fare reductions triggered by Delta Air Lines Inc. on Jan. 5. Continental's near-term liquidity is
