| News Release | Exhibit 99.1 |
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| 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 | | | | |
