Continental Airlines and AMR's American Airlines each reported that their load factor -- the percentage of seats filled with paying passengers -- jumped in March compared with the year prior. Does this jubilant metric mean investors should be buying? A bull and a bear took up the debate, on "Closing Bell."
Ray Neidl, airline analyst for Calyon Securities, told CNBC's Melissa Francis that Continental's news -- which included a revenue increase -- is clearly "an omen" of good things to come. He explained that the legacy carrier is "indicative of the industry" as a whole. He cited the combination of the oil-price slide with cost-cutting as the reason he favors traditional carriers over discount airlines.