EXHIBIT 99.1
News Release
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 OCTOBER 2005
OPERATIONAL PERFORMANCE
HOUSTON, Nov. 1, 2005 - Continental Airlines (NYSE: CAL) today reported an October consolidated (mainline plus regional) load factor of 77.3percent, 1.0point belowlast year's October consolidated load factor, and a mainline load factor of 77.4percent, 1.5points belowlast year's October mainline load factor. The carrier reported for October 2005 a record domestic mainline load factor of 80.2percent, 1.2points above October 2004, and an international mainline load factor of 74.0percent, 4.6points below October 2004.
During the month, Continental recorded a U.S. Department of Transportation on-time arrival rate of 78.1 percent and a systemwide mainline completion factor of 98.8 percent. The carrier's systemwide mainline completion factor was negatively impacted by Hurricane Wilma. Excluding weather cancellations, the carrier's systemwide mainline completion factor for October 2005 was 99.6 percent.
In October 2005, Continental flew 6.6 billion consolidated revenue passenger miles (RPMs) and 8.6 billion consolidated available seat miles (ASMs), resulting in a traffic increase of 7.2 percent and a capacity increase of 8.6 percent as compared to October 2004. In October 2005, Continental flew 5.9 billion mainline RPMs and 7.6 billion mainline ASMs, resulting in a mainline traffic increase of 6.1 percent and a mainline capacity increase of 8.1 percent as compared to October 2004. Domestic mainline traffic was 3.3 billion RPMs in October 2005, up 5.0 percent from October 2004, and domestic mainline capacity was 4.1 billion ASMs, up 3.4 percent from October 2004.
For the month of October 2005, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 4.5 and 5.5 percent compared to October 2004, while mainline passenger RASM is estimated to have increased between 3.5 and 4.5 percent compared to October 2004. For September 2005, consolidated passenger RASM increased 9.0 percent compared to September 2004 while mainline passenger RASM increased 8.3 percent from September 2004.
Continental's regional operations (Continental Express) had a record October load factor of 76.7 percent, 2.4 points above last year's October load factor. Regional RPMs were 779.9 million and regional ASMs were 1.02 billion in October 2005, resulting in a traffic increase of 16.1 percent and a capacity increase of 12.6 percent versus October 2004.
Continental Airlines is the world's sixth-largest airline. Continental, together with Continental Express and Continental Connection, has more than 3,000 daily departures throughout the Americas, Europe and Asia, serving 151 domestic and 134 international destinations, more than any other carrier in the world. More than 400 additional points are served via SkyTeam alliance airlines, which include Aeromexico, Air France/KLM, Alitalia, CSA Czech Airlines, Delta Air Lines, Korean Air and Northwest Airlines. With over 42,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with Continental Express, carries approximately 60 million passengers per year. Continental consistently earns awards and critical acclaim for both its operation and its corporate culture.
For the second consecutive year,FORTUNE magazine named Continental the No. 1 Most Admired Global Airline on its 2005 list of Most Admired Global Companies. Continental was also included in the publication's annual "Top 50" list, which ranks all companies, across a wide variety of industries, that appear in the Global Most Admired Companies issue. Continental again won major awards at the 2005 OAG Airline of the Year Awards including "Airline of the Year" and "Best Airline Based in North America" for the second consecutive year, and "Best Executive/Business Class" for the third consecutive year. For more company information, visit 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 2004 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the consequences of our significant financial losses and high leverage, terrorist attacks, domestic and international economic conditions, the significant cost of aircraft fuel, labor costs, competition, and industry conditions, including the demand for air travel, the airline pricing environment and industry capacity decisions, regulatory matters and the seasonal nature of the airline business. The company undertakes no obligation to public ly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release.
PRELIMINARY TRAFFIC RESULTS |
OCTOBER
|
2005
|
2004
|
Change
|
REVENUE PASSENGER MILES (000)
| | | | |
| Domestic | 3,317,921 | 3,159,420 | 5.0 | | Percent |
| | | | | | |
| International | 2,535,111 | 2,358,326 | 7.5 | | Percent |
| Transatlantic | 1,387,163 | 1,313,105 | 5.6 | | Percent |
| Latin America | 555,138 | 550,446 | 0.9 | | Percent |
| Pacific | 592,809 | 494,774 | 19.8 | | Percent |
| | | | | | |
| Mainline | 5,853,031 | 5,517,746 | 6.1 | | Percent |
| Regional | 779,885 | 671,568 | 16.1 | | Percent |
| Consolidated | 6,632,916 | 6,189,314 | 7.2 | | Percent |
AVAILABLE SEAT MILES (000)
| | | | | |
| Domestic | 4,134,667 | 3,997,256 | 3.4 | | Percent |
| | | | | | |
| International | 3,426,574 | 2,998,928 | 14.3 | | Percent |
| Transatlantic | 1,821,180 | 1,574,299 | 15.7 | | Percent |
| Latin America | 791,052 | 797,777 | -0.8 | | Percent |
| Pacific | 814,342 | 626,852 | 29.9 | | Percent |
| | | | | | |
| Mainline | 7,561,241 | 6,996,184 | 8.1 | | Percent |
| Regional | 1,017,277 | 903,796 | 12.6 | | Percent |
| Consolidated | 8,578,518 | 7,899,979 | 8.6 | | Percent |
PASSENGER LOAD FACTOR
| | | | | |
| Domestic | 80.2 Percent | 79.0 Percent | 1.2 | | Points |
| | | | | | |
| International | 74.0 Percent | 78.6 Percent | -4.6 | | Points |
| Transatlantic | 76.2 Percent | 83.4 Percent | -7.2 | | Points |
| Latin America | 70.2 Percent | 69.0 Percent | 1.2 | | Points |
| Pacific | 72.8 Percent | 78.9 Percent | -6.1 | | Points |
| | | | | | |
| Mainline | 77.4 Percent | 78.9 Percent | -1.5 | | Points |
| Regional | 76.7 Percent | 74.3 Percent | 2.4 | | Points |
| Consolidated | 77.3 Percent | 78.3 Percent | -1.0 | | Points |
| | | | | | |
ONBOARD PASSENGERS | | | | | |
| Mainline | 3,658,662 | 3,525,898 | 3.8 | | Percent |
| Regional | 1,415,687 | 1,251,745 | 13.1 | | Percent |
| Consolidated | 5,074,349 | 4,777,643 | 6.2 | | Percent |
| | | | | | |
CARGO REVENUE TON MILES (000) | | | | | |
| Total | 95,318 | 96,070 | -0.8 | | Percent |
PRELIMINARY TRAFFIC RESULTS |
YEAR-TO-DATE
|
2005
|
2004
|
Change
|
REVENUE PASSENGER MILES (000)
| | | | | |
| Domestic | 33,171,879 | 31,625,450 | 4.9 | | Percent |
| | | | | | |
| International | 26,264,712 | 23,358,891 | 12.4 | | Percent |
| Transatlantic | 13,041,983 | 11,329,234 | 15.1 | | Percent |
| Latin America | 7,574,166 | 7,157,674 | 5.8 | | Percent |
| Pacific | 5,648,563 | 4,871,983 | 15.9 | | Percent |
| | | | | | |
| Mainline | 59,436,591 | 54,984,341 | 8.1 | | Percent |
| Regional | 7,361,750 | 6,118,859 | 20.3 | | Percent |
| Consolidated | 66,798,341 | 61,103,200 | 9.3 | | Percent |
AVAILABLE SEAT MILES (000)
| | | | | |
| Domestic | 40,797,762 | 40,833,949 | -0.1 | | Percent |
| | | | | | |
| International | 33,784,104 | 29,969,723 | 12.7 | | Percent |
| Transatlantic | 16,257,613 | 14,045,097 | 15.8 | | Percent |
| Latin America | 10,026,260 | 9,701,439 | 3.3 | | Percent |
| Pacific | 7,500,231 | 6,223,187 | 20.5 | | Percent |
| | | | | | |
| Mainline | 74,581,866 | 70,803,672 | 5.3 | | Percent |
| Regional | 9,895,514 | 8,601,130 | 15.0 | | Percent |
| Consolidated | 84,477,380 | 79,404,802 | 6.4 | | Percent |
PASSENGER LOAD FACTOR | | | | | |
| Domestic | 81.3 Percent | 77.4 Percent | 3.9 | | Points |
| | | | | | |
| International | 77.7 Percent | 77.9 Percent | -0.2 | | Points |
| Transatlantic | 80.2 Percent | 80.7 Percent | -0.5 | | Points |
| Latin America | 75.5 Percent | 73.8 Percent | 1.7 | | Points |
| Pacific | 75.3 Percent | 78.3 Percent | -3.0 | | Points |
| | | | | | |
| Mainline | 79.7 Percent | 77.7 Percent | 2.0 | | Points |
| Regional | 74.4 Percent | 71.1 Percent | 3.3 | | Points |
| Consolidated | 79.1 Percent | 77.0 Percent | 2.1 | | Points |
ONBOARD PASSENGERS | | | | | |
| Mainline | 37,364,630 | 35,645,278 | 4.8 | | Percent |
| Regional | 13,277,420 | 11,362,110 | 16.9 | | Percent |
| Consolidated | 50,642,050 | 47,007,388 | 7.7 | | Percent |
CARGO REVENUE TON MILES (000) | | | | | |
| Total | 840,294 | 845,627 | -0.6 | | Percent |
PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS |
OCTOBER
|
2005
|
2004
|
Change
|
On-Time Performance1 | 78.1% | 87.7% | (9.6) | Points |
Completion Factor2 | 98.8% | 99.8% | (1.0) | Points |
YEAR-TO-DATE
|
2005
|
2004
|
Change
|
On-Time Performance1 | 77.3% | 79.3% | (2.0) | Points |
Completion Factor 2 | 99.3% | 99.5% | (0.2) | Points |
September 2005 consolidated breakeven load factor3,4
|
84.5
|
Percent
|
September 2005 year-over-year consolidated RASM change | 9.0 | Percent |
September 2005 year-over-year mainline RASM change | 8.3 | Percent |
October 2005 estimated year-over-year consolidated RASM change | 4.5-5.5 | Percent |
October 2005 estimated year-over-year mainline RASM change | 3.5-4.5 | Percent |
October 2005 estimated average price per gallon of fuel, including fuel taxes | 2.36 | Dollars |
October 2005 estimated consolidated breakeven load factor3 | 90 | Percent |
October 2005 actual consolidated load factor5 | | 77.3 | Percent |
November 2005 estimated consolidated breakeven load factor 3 | 86 | Percent |
1Department of Transportation Arrivals within 14 minutes | | | |
2Mainline Mileage Completion Percentage | | | | | |
3 Consolidated load factor (including Continental Airlines and Continental Express) needed to break even on a | |
consolidated net income basis. Actual consolidated breakeven load factor may vary significantly from | |
estimates depending on actual passenger revenue yields, fuel price and other factors. Month-to-date consolidated |
load factor information can be found on Continental's website at continental.com in the Investor Relations- | |
Financial/Traffic Releases section. | | | | | |
4 Non-cash settlement charge related to the pilot pension plan offset by a reduction in the allowance related to | |
permanently grounded aircraft increased consolidated breakeven load factor by 0.4 percentage points. | |
5 Includes Continental Airlines and Continental Express | | | | |
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