EX-99.1 2 f100109form8kexh991.htm EXHIBIT 99.1 f100109form8kexh991.htm

News Release
Exhibit 99.1
     
Contact:
Corporate Communications
  
Houston:
713.324.5080
  
Email:
corpcomm@coair.com
  
News archive:
continental.com/company/news/
Address:
P.O. Box 4607, Houston, TX 77210-4607

CONTINENTAL AIRLINES REPORTS SEPTEMBER 2009
OPERATIONAL PERFORMANCE
HOUSTON, Oct. 1, 2009 – Continental Airlines (NYSE: CAL) today reported a September consolidated (mainline plus regional) load factor of 81.5 percent, 5.0 points above the September 2008 consolidated load factor, and a mainline load factor of 82.2 percent, 4.8 points above the September 2008 mainline load factor.  The carrier reported a domestic mainline September load factor of 84.0 percent, 5.5 points above the September 2008 domestic mainline load factor, and an international mainline load factor of 80.4 percent, 4.1 points above September 2008.  All four September load factors were records for the month.
During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 88.4 percent and a mainline segment completion factor of 99.8 percent. Continental also recorded a record number of 100 percent completion factor days for the month of September.
In September 2009, Continental flew 6.9 billion consolidated revenue passenger miles (RPMs) and 8.5 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic increase of 7.0 percent and a capacity increase of 0.5 percent as compared to September 2008. In September 2009, Continental flew 6.2 billion mainline RPMs and 7.6 billion mainline ASMs, resulting in a mainline traffic increase of 6.7 percent and a mainline capacity increase of 0.5 percent as compared to September 2008. Domestic mainline traffic was 3.2 billion RPMs in September 2009, up 9.8 percent from September 2008, and domestic mainline capacity was 3.8 billion ASMs, up 2.7 percent from September 2008. September 2008 operations were impacted by the effects of Hurricane Ike, which caused a multi-day closure of the Houston hub and reduced September capacity.
For September 2009, consolidated passenger revenue per available seat mile (RASM) is estimated to have decreased between 18.5 and 19.5 percent compared to September 2008, while mainline RASM is estimated to have decreased between 20.0 and 21.0 percent. September 2008 results included a 3 point increase in both consolidated and mainline RASM related to a reduction in the company's frequent flyer liability. For August 2009, consolidated passenger RASM decreased 17.2 percent compared to August 2008, while mainline passenger RASM decreased 17.9 percent compared to August 2008.
Continental ended the third quarter 2009 with an unrestricted cash, cash equivalents and short-term investments balance of approximately $2.55 billion.
Continental’s regional operations had a September load factor of 75.8 percent, 6.3 points above the September 2008 regional load factor. Regional RPMs were 725.0 million and regional ASMs were 956.9 million in September 2009, resulting in a traffic increase of 9.0 percent and a capacity decrease of 0.1 percent versus September 2008.
Continental Airlines is the world’s fifth largest airline.  Continental, together with Continental Express and Continental Connection, has more than 2,750 daily departures throughout the Americas, Europe and Asia, serving 133 domestic and 132 international destinations. More than 750 additional points are served via current alliance partners.   Continental has hubs serving New York, Houston, Cleveland and Guam, and together with its regional partners, carries approximately 63 million passengers per year.
Celebrating its 75th anniversary this year, Continental consistently earns awards and critical acclaim for both its operation and its corporate culture.  For the sixth consecutive year, FORTUNE magazine named Continental the No. 1 World’s Most Admired Airline on its 2009 list of World’s Most Admired Companies. For more company information, go to continental.com.

This press release contains forward-looking statements that are not limited to historical facts, but reflect the company’s current beliefs, expectations or intentions regarding future events. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. For examples of such risks and uncertainties, please see the risk factors set forth in the company’s 2008 Form 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the significant volatility in the cost of aircraft fuel, its transition to a new global alliance, the consequences of its high leverage and other significant capital commitments, its high labor and pension costs, delays in scheduled aircraft deliveries, service interruptions at one of its hub airports, disruptions to the operations of its regional operators, disruptions in its computer systems, and industry conditions, including the recession in the U.S. and global economies, the airline pricing environment, terrorist attacks, regulatory matters, excessive taxation, industry consolidation, the availability and cost of insurance, public health threats and the seasonal nature of the airline business. The company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by applicable law.

 
 
 
 


PRELIMINARY TRAFFIC RESULTS
SEPTEMBER
2009
2008
Change
REVENUE PASSENGER MILES (000)
          
 
Domestic
3,173,371
2,889,642
9.8
  
Percent
             
 
International
3,048,654
2,939,376
3.7
  
Percent
 
Transatlantic
1,727,480
1,779,464
-2.9
  
Percent
 
Latin America
635,693
591,423
7.5
  
Percent
 
Pacific
685,481
568,489
20.6
  
Percent
             
 
Mainline
6,222,025
5,829,018
6.7
  
Percent
 
Regional
724,977
665,285
9.0
  
Percent
 
Consolidated
6,947,002
6,494,303
7.0
  
Percent
AVAILABLE SEAT MILES (000)
          
 
Domestic
3,778,821
3,678,834
2.7
  
Percent
             
 
International
3,791,178
3,849,950
-1.5
  
Percent
 
Transatlantic
2,079,010
2,338,025
-11.1
  
Percent
 
Latin America
819,389
774,378
5.8
  
Percent
 
Pacific
892,779
737,547
21.0
  
Percent
             
 
Mainline
7,569,999
7,528,784
0.5
  
Percent
 
Regional
956,913
957,659
-0.1
  
Percent
 
Consolidated
8,526,912
8,486,443
0.5
  
Percent
PASSENGER LOAD FACTOR
          
 
Domestic
 84.0 Percent
 78.5 Percent
5.5
  
Points
             
 
International
 80.4 Percent
 76.3 Percent
4.1
  
Points
 
Transatlantic
 83.1 Percent
 76.1 Percent
7.0
  
Points
 
Latin America
 77.6 Percent
 76.4 Percent
1.2
  
Points
 
Pacific
 76.8 Percent
 77.1 Percent
-0.3
  
Points
             
 
Mainline
 82.2 Percent
 77.4 Percent
4.8
  
Points
 
Regional
 75.8 Percent
 69.5 Percent
6.3
  
Points
 
Consolidated
 81.5 Percent
 76.5 Percent
5.0
  
Points
ONBOARD PASSENGERS
          
 
Mainline
3,330,332
3,162,971
5.3
  
Percent
 
Regional
1,350,709
1,239,585
9.0
  
Percent
 
Consolidated
4,681,041
4,402,556
6.3
  
Percent
CARGO REVENUE TON MILES (000)
          
 
Total
84,370
78,161
7.9
  
Percent
             


 
 
 


PRELIMINARY TRAFFIC RESULTS
YEAR-TO-DATE
2009
2008
Change
REVENUE PASSENGER MILES (000)
          
 
Domestic
30,522,134
33,059,679
-7.7
  
Percent
             
 
International
30,066,409
31,198,331
-3.6
  
Percent
 
Transatlantic
15,426,106
16,593,207
-7.0
  
Percent
 
Latin America
8,999,186
9,173,141
-1.9
  
Percent
 
Pacific
5,641,117
5,431,983
3.9
  
Percent
             
 
Mainline
60,588,543
64,258,010
-5.7
  
Percent
 
Regional
6,984,255
7,603,772
-8.1
  
Percent
 
Consolidated
67,572,798
71,861,782
-6.0
  
Percent
AVAILABLE SEAT MILES (000)
          
 
Domestic
35,966,166
39,572,803
-9.1
  
Percent
             
 
International
38,151,937
39,551,824
-3.5
  
Percent
 
Transatlantic
19,582,526
21,367,474
-8.4
  
Percent
 
Latin America
11,061,249
11,109,442
-0.4
  
Percent
 
Pacific
7,508,162
7,074,908
6.1
  
Percent
             
 
Mainline
74,118,103
79,124,627
-6.3
  
Percent
 
Regional
9,144,698
9,937,632
-8.0
  
Percent
 
Consolidated
83,262,801
89,062,259
-6.5
  
Percent
PASSENGER LOAD FACTOR
          
 
Domestic
84.9 Percent
83.5 Percent
1.4
  
Points
             
 
International
78.8 Percent
78.9 Percent
-0.1
  
Points
 
Transatlantic
78.8 Percent
77.7 Percent
1.1
  
Points
 
Latin America
81.4 Percent
82.6 Percent
-1.2
  
Points
 
Pacific
75.1 Percent
76.8 Percent
-1.7
  
Points
             
 
Mainline
81.7 Percent
81.2 Percent
0.5
  
Points
 
Regional
76.4 Percent
76.5 Percent
-0.1
  
Points
 
Consolidated
81.2 Percent
80.7 Percent
0.5
  
Points
ONBOARD PASSENGERS
          
 
Mainline
34,618,306
37,714,489
-8.2
  
Percent
 
Regional
12,932,311
13,794,791
-6.3
  
Percent
 
Consolidated
47,550,617
51,509,280
-7.7
  
Percent
CARGO REVENUE TON MILES (000)
          
 
Total
664,768
769,567
-13.6
  
Percent


 
 
 


PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS
SEPTEMBER
2009
2008
Change
On-Time Performance 1
88.4%
82.1%
                 6.3
Points
Completion Factor 2
99.8%
94.4%
                 5.4
Points
August 2009 year-over-year consolidated RASM change
              (17.2)
Percent
August 2009 year-over-year mainline RASM change
              (17.9)
Percent
September 2009 estimated year-over-year consolidated RASM change
 (18.5) - (19.5)
Percent
September 2009 estimated year-over-year mainline RASM change
 (20.0) - (21.0)
Percent
September 2009 estimated average price per gallon of fuel, including fuel taxes
1.98
Dollars
Third Quarter 2009 estimated average price per gallon of fuel, including fuel taxes
1.99
Dollars
             
1 Department of Transportation Arrivals within 14 minutes
      
2 Mainline Segment Completion Percentage