Sea Containers operating loss improves to $7.89 million in February

By Caroline Salls

Pittsburgh, March 31 - Sea Containers Ltd. reported a $7.89 million operating loss for February on $2.45 million in revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, the company posted a $44.85 million operating loss for January, also on $2.45 million in revenues.

The February net loss was $12.33 million, narrowing from a $49.72 million January net loss.

Cash and cash equivalents on Feb. 29 were $37.25 million, compared with $39.66 million on Jan. 31.

Sea Containers, a Hamilton, Bermuda-based provider of passenger and freight transport and marine container leasing, filed for bankruptcy on Oct. 15, 2006. Its Chapter 11 case number is 06-11156.

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