CONTINENTAL AIRLINES expects to post a loss in the first quarter and a "significant loss" for full-year 2005. The carrier has revealed it does not have any fuel hedges in place, which will leave it vulnerable to record high fuel prices. It also said its cash position will slide during the quarter. The airline expects to end the first quarter with unrestricted cash and short-term investments balance of between $1.3 and $1.4 billion. It ended 2004 with a balance of $1.46 billion.
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