CAL was rated the "world's most admired airline" by Fortune magazine for six consecutive years from 2004 to 2009. Continental's good relations with its customers will prevent it from feeling the pressures of the worsening economy during 2009 and the company's stock will rise as a result.
In November 2008, oil prices dropped to under $54 per barrel, which was more than 60% less than oil prices in July. As a result of decreasing oil prices, Continental's profit outlook in 2008 and 2009 has been improved.
CAL finished 2007 with $2.8 billion in cash and currently (4/10/2008) has a market cap of $2.1 billion. Of course an airline can burn through cash in a hurry buying planes, fuel and paying their well salaried personal. Still it is a nice cash position. If the company can remain profitable in 2008 the stock should do very well.
Continental Airlines earns approximatey 50% of its revenues from international air travel highest of U.S. based carriers. International air travel should grow faster than domestic travel. Also, many international routes have fewer travel options allowing higher profit margins. Finally, CAL has increased international exposure to new airports: London Heathrow, Mumbai and Shanghai.