We consider a Newton-Krylov approach for discretized compressible Euler equations. A good preconditioner in the Krylov subspace method is essential for obtaining an efficient solver in such an approach. In this paper we compare point-block-Gauss-Seidel, point-block-ILU and point-block-SPAI preconditioners. It turns out that the SPAI method is not satisfactory for our problem class. The point-block-Gauss-Seidel and point-block-ILU preconditioners result in iterative solvers with comparable efficiencies.