Continental Airlines swung to a $3 million second-quarter net loss from a $228 million net profit a year earlier

Citing high fuel prices and weak economic conditions, . Passenger revenue grew by 7.5 percent to $3.65 billion. "As for corporate travel trends, our market intelligence shows that most companies are not significantly reducing their air travel budgets," said president Jeffrey Smisek. "We also aren't hearing of many companies increasing their travel budgets to compensate for higher fares. So the number of trips taken will have to decrease if companies are to stay within their travel budget."