Continental Airlines (NYSE: CAL) today reported a September consolidated (mainline plus regional) load factor of 79.0 percent, 0.8 points above the September 2006 consolidated load factor, and a mainline load factor of 79.2 percent, 0.6 points above the September 2006 mainline load factor.
HOUSTON – Both load factors were records for the month. In addition, the carrier reported a domestic mainline load factor of 81.1 percent, 0.1 points below September 2006, and an international mainline load factor of 77.2 percent, 1.5 points above September 2006.
During the month, Continental excelled operationally, recording a U.S. Department of Transportation (DOT) on-time arrival rate of 88.0 percent, its fifth best on-time performance of any month in the carrier’s history. In addition, the carrier reported a mainline mileage completion factor of 99.9 percent, a record for September. The carrier’s mainline segment completion factor for the month was 99.8 percent.
In September 2007, Continental flew 7.3 billion consolidated revenue passenger miles (RPMs) and 9.2 billion consolidated available seat miles (ASMs), resulting in a traffic increase of 5.6 percent and a capacity increase of 4.5 percent as compared to September 2006. In September 2007, Continental flew 6.5 billion mainline RPMs and 8.3 billion mainline ASMs, resulting in a mainline traffic increase of 7.1 percent and a mainline capacity increase of 6.2 percent as compared to September 2006. Domestic mainline traffic was 3.4 billion RPMs in September 2007, up 4.5 percent from September 2006, and domestic mainline capacity was 4.3 billion ASMs, up 4.6 percent from September 2006.
For September 2007, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 4.5 and 5.5 percent compared to September 2006, while mainline passenger RASM is estimated to have increased between 5.5 and 6.5 percent compared to September 2006. For August 2007, consolidated passenger RASM increased 7.3 percent compared to August 2006, while mainline passenger RASM increased 8.8 percent from August 2006.
Continental ended the third quarter of 2007 with unrestricted cash and short-term investments of approximately $3.04 billion.
Continental’s regional operations had a record September load factor of 76.5 percent, 1.5 points above the September 2006 load factor. Regional RPMs were 743.9 million and regional ASMs were 972.3 million in September 2007, resulting in a traffic decrease of 5.9 percent and a capacity decrease of 7.9 percent versus September 2006.
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 144 domestic and 138 international destinations. More than 400 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 67 million passengers per year. Continental consistently earns awards and critical acclaim for both its operation and its corporate culture.
For the fourth consecutive year, FORTUNE magazine named Continental the No. 1 World’s Most Admired Airline on its 2007 list of World’s Most Admired Companies. Continental was also named the No. 1 airline on the publication’s 2007 America’s Most Admired airline industry list. 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 2006 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the consequences of the company’s significant financial losses and high leverage, the significant cost of aircraft fuel, its high labor and pension costs, service interruptions at one of its hub airports, disruptions in its computer systems, and industry conditions, including the airline pricing environment, industry capacity decisions, industry consolidation, terrorist attacks, regulatory matters, excessive taxation, 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 2007 2006 Change
REVENUE PASSENGER
MILES (000)
Domestic 3,448,145 3,300,487 4.5 Percent
International 3,097,052 2,813,233 10.1 Percent
Transatlantic 1,814,237 1,595,875 13.7 Percent
Latin America 671,055 613,867 9.3 Percent
Pacific 611,760 603,491 1.4 Percent
Mainline 6,545,197 6,113,720 7.1 Percent
Regional 743,920 790,974 -5.9 Percent
Consolidated 7,289,117 6,904,694 5.6 Percent
AVAILABLE SEAT
MILES (000)
Domestic 4,250,123 4,063,216 4.6 Percent
International 4,009,227 3,716,264 7.9 Percent
Transatlantic 2,303,334 2,027,996 13.6 Percent
Latin America 898,551 881,362 2.0 Percent
Pacific 807,342 806,906 0.1 Percent
Mainline 8,259,350 7,779,480 6.2 Percent
Regional 972,315 1,055,252 -7.9 Percent
Consolidated 9,231,665 8,834,732 4.5 Percent
PASSENGER LOAD FACTOR
Domestic 81.1 Percent 81.2 Percent -0.1 Points
International 77.2 Percent 75.7 Percent 1.5 Points
Transatlantic 78.8 Percent 78.7 Percent 0.1 Points
Latin America 74.7 Percent 69.6 Percent 5.1 Points
Pacific 75.8 Percent 74.8 Percent 1.0 Points
Mainline 79.2 Percent 78.6 Percent 0.6 Points
Regional 76.5 Percent 75.0 Percent 1.5 Points
Consolidated 79.0 Percent 78.2 Percent 0.8 Points
ONBOARD PASSENGERS
Mainline 3,751,807 3,574,568 5.0 Percent
Regional 1,383,022 1,421,864 -2.7 Percent
Consolidated 5,134,829 4,996,432 2.8 Percent
CARGO REVENUE TON MILES (000)
Total 86,730 90,420 -4.1 Percent
PRELIMINARY TRAFFIC RESULTS
YEAR-TO-DATE 2007 2006 Change
REVENUE PASSENGER
MILES (000)
Domestic 34,292,570 32,456,079 5.7 Percent
International 29,746,500 27,503,339 8.2 Percent
Transatlantic 15,282,538 13,588,299 12.5 Percent
Latin America 8,672,677 8,275,059 4.8 Percent
Pacific 5,791,285 5,639,981 2.7 Percent
Mainline 64,039,070 59,959,418 6.8 Percent
Regional 7,456,823 7,782,641 -4.2 Percent
Consolidated 71,495,893 67,742,059 5.5 Percent
AVAILABLE SEAT MILES (000)
Domestic 40,646,585 38,716,240 5.0 Percent
International 37,045,627 34,961,179 6.0 Percent
Transatlantic 19,032,122 17,160,682 10.9 Percent
Latin America 10,654,600 10,464,229 1.8 Percent
Pacific 7,358,905 7,336,268 0.3 Percent
Mainline 77,692,212 73,677,419 5.4 Percent
Regional 9,495,368 9,958,862 -4.7 Percent
Consolidated 87,187,580 83,636,281 4.2 Percent
PASSENGER LOAD FACTOR
Domestic 84.4 Percent 83.8 Percent 0.6 Points
International 80.3 Percent 78.7 Percent 1.6 Points
Transatlantic 80.3 Percent 79.2 Percent 1.1 Points
Latin America 81.4 Percent 79.1 Percent 2.3 Points
Pacific 78.7 Percent 76.9 Percent 1.8 Points
Mainline 82.4 Percent 81.4 Percent 1.0 Points
Regional 78.5 Percent 78.1 Percent 0.4 Points
Consolidated 82.0 Percent 81.0 Percent 1.0 Points
ONBOARD PASSENGERS
Mainline 38,649,351 36,751,863 5.2 Percent
Regional 13,549,347 13,763,175 -1.6 Percent
Consolidated 52,198,698 50,515,038 3.3 Percent
CARGO REVENUE TON
MILES (000)
Total 758,029 794,149 -4.5 Percent
PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS
SEPTEMBER 2007 2006 Change
On-Time Performance (1) 88.0% 81.3% 6.7 Points
Completion Factor (2) 99.8% 99.8% -- Points
August 2007 year-over-year consolidated RASM change 7.3 Percent
August 2007 year-over-year mainline RASM change 8.8 Percent
September 2007 estimated year-over-year consolidated
RASM change 4.5 - 5.5 Percent
September 2007 estimated year-over-year mainline
RASM change 5.5 - 6.5 Percent
September 2007 estimated average price per gallon of
fuel, including fuel taxes 2.23 Dollars
Third Quarter 2007 estimated average price per gallon
of fuel, including fuel taxes 2.21 Dollars
(1) Department of Transportation Arrivals within 14 minutes
(2) Mainline Segment Completion Percentage
www.continental.com
