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 APRIL 2008
OPERATIONAL PERFORMANCE
HOUSTON, May 1, 2008 - Continental Airlines (NYSE: CAL) today reported an April consolidated (mainline plus regional) load factor of 79.4 percent, 2.9 points below the April 2007 consolidated load factor, and a mainline load factor of 79.6 percent, 3.1 points below the April 2007 mainline load factor. In addition, the carrier reported a domestic mainline April load factor of 83.8 percent, 1.7 points below April 2007, and an international mainline load factor of 75.5 percent, 4.1 points below April 2007.
During the month, Continental recorded a U.S. Department of Transportation on-time arrival rate of 76.5 percent and a mainline segment completion factor of 99.7 percent.
In April 2008, Continental flew 7.8 billion consolidated revenue passenger miles (RPMs) and 9.9 billion consolidated available seat miles (ASMs), resulting in a traffic decrease of 0.2 percent and a capacity increase of 3.4 percent as compared to April 2007. In April 2008, Continental flew 6.9 billion mainline RPMs and 8.7 billion mainline ASMs, resulting in a mainline traffic decrease of 0.8 percent and a mainline capacity increase of 3.0 percent as compared to April 2007. Domestic mainline traffic was 3.6 billion RPMs in April 2008, down 4.8 percent from April 2007, and domestic mainline capacity was 4.3 billion ASMs, down 2.9 percent from April 2007.
For April 2008, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 3.0 and 4.0 percent compared to April 2007, while mainline passenger RASM is estimated to have increased between 2.0 and 3.0 percent compared to April 2007. For March 2008, consolidated passenger RASM increased 6.3 percent compared to March 2007, while mainline passenger RASM increased 5.9 percent compared to March 2007.
Continental's regional operations had an April load factor of 77.8 percent, 1.2 points below the April 2007 load factor. Regional RPMs were 885.6 million and regional ASMs were 1,137.9 million in April 2008, resulting in a traffic increase of 4.6 percent and a capacity increase of 6.3 percent versus April 2007.
Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 3,100 daily departures throughout the Americas, Europe and Asia, serving 145 domestic and 138 international destinations. More than 550 additional points are served via SkyTeam alliance airlines. With more than 45,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with Continental Express, carries approximately 69 million passengers per year. Continental consistently earns awards and critical acclaim for both its operation and its corporate culture.
For the fifth consecutive year, FORTUNE magazine named Continental the No. 1 World's Most Admired Airline on its 2008 list of World's Most Admired Companies. Additionally, Continental again won major awards at the OAG Airline of the Year Awards including "Best Airline Based in North America" for the fourth year in a row, and "Best Executive/Business Class" for the fifth 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 2007 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the consequences of the company's high leverage, the significant cost of aircraft fuel, delays in scheduled aircraft deliveries, its high labor and pension costs, 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 airline pricing environment, industry capacity decisions, industry cons olidation, terrorist attacks, regulatory matters, excessive taxation, the availability and cost of insurance, public health threats, an economic downturn in the U.S. and global economies 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 |
APRIL | 2008 | 2007 | Change |
REVENUE PASSENGER MILES (000) | | | | |
| Domestic | 3,638,483 | 3,821,307 | -4.8 | | Percent |
| | | | | | |
| International | 3,311,310 | 3,184,423 | 4.0 | | Percent |
| Transatlantic | 1,769,106 | 1,597,423 | 10.7 | | Percent |
| Latin America | 1,016,775 | 985,267 | 3.2 | | Percent |
| Pacific | 525,429 | 601,733 | -12.7 | | Percent |
| | | | | | |
| Mainline | 6,949,793 | 7,005,730 | -0.8 | | Percent |
| Regional | 885,629 | 846,578 | 4.6 | | Percent |
| Consolidated | 7,835,422 | 7,852,308 | -0.2 | | Percent |
AVAILABLE SEAT MILES (000) | | | | | |
| Domestic | 4,340,552 | 4,470,336 | -2.9 | | Percent |
| | | | | | |
| International | 4,385,133 | 3,999,072 | 9.7 | | Percent |
| Transatlantic | 2,348,980 | 1,955,591 | 20.1 | | Percent |
| Latin America | 1,288,383 | 1,232,335 | 4.5 | | Percent |
| Pacific | 747,770 | 811,146 | -7.8 | | Percent |
| | | | | | |
| Mainline | 8,725,685 | 8,469,408 | 3.0 | | Percent |
| Regional | 1,137,914 | 1,070,956 | 6.3 | | Percent |
| Consolidated | 9,863,599 | 9,540,364 | 3.4 | | Percent |
PASSENGER LOAD FACTOR | | | | | |
| Domestic | 83.8 Percent | 85.5 Percent | -1.7 | | Points |
| | | | | | |
| International | 75.5 Percent | 79.6 Percent | -4.1 | | Points |
| Transatlantic | 75.3 Percent | 81.7 Percent | -6.4 | | Points |
| Latin America | 78.9 Percent | 80.0 Percent | -1.1 | | Points |
| Pacific | 70.3 Percent | 74.2 Percent | -3.9 | | Points |
| | | | | | |
| Mainline | 79.6 Percent | 82.7 Percent | -3.1 | | Points |
| Regional | 77.8 Percent | 79.0 Percent | -1.2 | | Points |
| Consolidated | 79.4 Percent | 82.3 Percent | -2.9 | | Points |
ONBOARD PASSENGERS | | | | | |
| Mainline | 4,212,499 | 4,367,242 | -3.5 | | Percent |
| Regional | 1,609,997 | 1,540,569 | 4.5 | | Percent |
| Consolidated | 5,822,496 | 5,907,811 | -1.4 | | Percent |
CARGO REVENUE TON MILES (000) | | | | |
| Total | 90,427 | 86,258 | 4.8 | | Percent |
PRELIMINARY TRAFFIC RESULTS |
YEAR-TO-DATE | 2008 | 2007 | Change |
REVENUE PASSENGER MILES (000) | | | | |
| Domestic | 14,067,250 | 14,209,313 | -1.0 | | Percent |
| | | | | | |
| International | 12,805,637 | 11,886,832 | 7.7 | | Percent |
| Transatlantic | 6,246,117 | 5,555,378 | 12.4 | | Percent |
| Latin America | 4,199,434 | 3,887,337 | 8.0 | | Percent |
| Pacific | 2,360,086 | 2,444,117 | -3.4 | | Percent |
| | | | | | |
| Mainline | 26,872,887 | 26,096,145 | 3.0 | | Percent |
| Regional | 3,242,407 | 3,206,223 | 1.1 | | Percent |
| Consolidated | 30,115,294 | 29,302,368 | 2.8 | | Percent |
AVAILABLE SEAT MILES (000) | | | | | |
| Domestic | 17,066,631 | 17,285,896 | -1.3 | | Percent |
| | | | | | |
| International | 16,936,932 | 15,307,674 | 10.6 | | Percent |
| Transatlantic | 8,557,602 | 7,251,846 | 18.0 | | Percent |
| Latin America | 5,163,588 | 4,846,477 | 6.5 | | Percent |
| Pacific | 3,215,742 | 3,209,351 | 0.2 | | Percent |
| | | | | | |
| Mainline | 34,003,563 | 32,593,570 | 4.3 | | Percent |
| Regional | 4,235,522 | 4,196,906 | 0.9 | | Percent |
| Consolidated | 38,239,085 | 36,790,476 | 3.9 | | Percent |
PASSENGER LOAD FACTOR | | | | | |
| Domestic | 82.4 Percent | 82.2 Percent | 0.2 | | Points |
| | | | | | |
| International | 75.6 Percent | 77.7 Percent | -2.1 | | Points |
| Transatlantic | 73.0 Percent | 76.6 Percent | -3.6 | | Points |
| Latin America | 81.3 Percent | 80.2 Percent | 1.1 | | Points |
| Pacific | 73.4 Percent | 76.2 Percent | -2.8 | | Points |
| | | | | | |
| Mainline | 79.0 Percent | 80.1 Percent | -1.1 | | Points |
| Regional | 76.6 Percent | 76.4 Percent | 0.2 | | Points |
| Consolidated | 78.8 Percent | 79.6 Percent | -0.8 | | Points |
ONBOARD PASSENGERS | | | | | |
| Mainline | 16,408,875 | 16,312,685 | 0.6 | | Percent |
| Regional | 5,852,639 | 5,771,876 | 1.4 | | Percent |
| Consolidated | 22,261,514 | 22,084,561 | 0.8 | | Percent |
CARGO REVENUE TON MILES (000) | | | | |
| Total | 351,723 | 340,329 | 3.3 | | Percent |
PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS |
APRIL | | 2008 | 2007 | Change |
On-Time Performance1 | 76.5% | 73.5% | 3.0 | Points |
Completion Factor2 | 99.7% | 99.6% | 0.1 | Points |
March 2008 year-over-year consolidated RASM change | 6.3 | Percent |
March 2008 year-over-year mainline RASM change | 5.9 | Percent |
April 2008 estimated year-over-year consolidated RASM change | 3.0 - 4.0 | Percent |
April 2008 estimated year-over-year mainline RASM change | 2.0 - 3.0 | Percent |
April 2008 estimated average price per gallon of fuel, including fuel taxes | 3.22 | Dollars |
Second Quarter 2008 estimated average price per gallon of fuel, including fuel taxes | 3.26 | Dollars |
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1 Department of Transportation Arrivals within 14 minutes | | |
2 Mainline Segment Completion Percentage | | | |
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