Continental Airlines (NYSE: CAL) reported a March consolidated (mainline plus regional) load factor of 82.3 percent, 0.3 points below the March 2007 consolidated load factor, and a mainline load factor of 82.6 percent, 0.5 points below the March 2007 mainline load factor.
Houston – In addition, the carrier reported a record domestic mainline March load factor of 85.2 percent, 1.0 point above March 2007, and an international mainline load factor of 80.0 percent, 1.9 points below March 2007. During the month, Continental recorded a U.S. Department of Transportation on-time arrival rate of 68.4 percent and a mainline segment completion factor of 98.9 percent.
In March 2008, Continental flew 8.3 billion consolidated revenue passenger miles (RPMs) and 10.1 billion consolidated available seat miles (ASMs), resulting in a traffic increase of 4.3 percent and a capacity increase of 4.6 percent as compared to March 2007. In March 2008, Continental flew 7.4 billion mainline RPMs and 9.0 billion mainline ASMs, resulting in a mainline traffic increase of 4.8 percent and a mainline capacity increase of 5.4 percent as compared to March 2007. Domestic mainline traffic was 3.9 billion RPMs in March 2008, up 0.9 percent from March 2007, and domestic mainline capacity was 4.5 billion ASMs, down 0.3 percent from March 2007.
For March 2008, both consolidated and mainline passenger revenue per available seat mile (RASM) are estimated to have increased between 5.5 and 6.5 percent compared to March 2007. For February 2008, consolidated passenger RASM increased 5.4 percent compared to February 2007, while mainline passenger RASM increased 5.3 percent from February 2007.
Continental ended the first quarter of 2008 with unrestricted cash and short-term investments balance of $2.51 billion. This balance excludes $237 million in par value of student loan-related auction rate securities that were previously classified as short-term investments on our consolidated balance sheets. These securities were reclassified as long-term investments during the quarter.
Continental’s regional operations had a record March load factor of 79.7 percent, 1.3 points above the March 2007 load factor. Regional RPMs were 878.8 million and regional ASMs were 1,102.7 million in March 2008, resulting in flat traffic and a capacity decrease of 1.6 percent versus March 2007.
Continental Airlines is the world’s fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,900 daily departures throughout the Americas, Europe and Asia, serving 144 domestic and 139 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 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 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 consolidation, 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
MARCH 2008 2007 Change
REVENUE PASSENGER MILES (000)
Domestic 3,870,731 3,836,151 0.9 Percent
International 3,541,997 3,238,761 9.4 Percent
Transatlantic 1,716,250 1,512,874 13.4 Percent
Latin America 1,169,405 1,045,513 11.8 Percent
Pacific 656,342 680,374 -3.5 Percent
Mainline 7,412,728 7,074,912 4.8 Percent
Regional 878,815 878,401 0.0 Percent
Consolidated 8,291,543 7,953,313 4.3 Percent
AVAILABLE SEAT MILES (000)
Domestic 4,542,933 4,557,383 -0.3 Percent
International 4,428,434 3,955,157 12.0 Percent
Transatlantic 2,203,699 1,870,665 17.8 Percent
Latin America 1,381,112 1,266,020 9.1 Percent
Pacific 843,623 818,472 3.1 Percent
Mainline 8,971,367 8,512,540 5.4 Percent
Regional 1,102,650 1,120,365 -1.6 Percent
Consolidated 10,074,017 9,632,905 4.6 Percent
PASSENGER LOAD FACTOR
Domestic 85.2 Percent 84.2 Percent 1.0 Point
International 80.0 Percent 81.9 Percent -1.9 Points
Transatlantic 77.9 Percent 80.9 Percent -3.0 Points
Latin America 84.7 Percent 82.6 Percent 2.1 Points
Pacific 77.8 Percent 83.1 Percent -5.3 Points
Mainline 82.6 Percent 83.1 Percent -0.5 Points
Regional 79.7 Percent 78.4 Percent 1.3 Points
Consolidated 82.3 Percent 82.6 Percent -0.3 Points
ONBOARD PASSENGERS
Mainline 4,539,771 4,438,980 2.3 Percent
Regional 1,578,906 1,572,692 0.4 Percent
Consolidated 6,118,677 6,011,672 1.8 Percent
CARGO REVENUE TON MILES (000)
Total 93,478 93,042 0.5 Percent
PRELIMINARY TRAFFIC RESULTS
YEAR-TO-DATE 2008 2007 Change
REVENUE PASSENGER MILES (000)
Domestic 10,428,767 10,388,006 0.4 Percent
International 9,494,327 8,702,409 9.1 Percent
Transatlantic 4,477,011 3,957,956 13.1 Percent
Latin America 3,182,659 2,902,069 9.7 Percent
Pacific 1,834,657 1,842,384 -0.4 Percent
Mainline 19,923,094 19,090,415 4.4 Percent
Regional 2,356,778 2,359,645 -0.1 Percent
Consolidated 22,279,872 21,450,060 3.9 Percent
AVAILABLE SEAT MILES (000)
Domestic 12,726,079 12,815,560 -0.7 Percent
International 12,551,800 11,308,601 11.0 Percent
Transatlantic 6,208,622 5,296,254 17.2 Percent
Latin America 3,875,205 3,614,142 7.2 Percent
Pacific 2,467,973 2,398,205 2.9 Percent
Mainline 25,277,879 24,124,161 4.8 Percent
Regional 3,097,526 3,125,950 -0.9 Percent
Consolidated 28,375,405 27,250,111 4.1 Percent
PASSENGER LOAD FACTOR
Domestic 81.9 Percent 81.1 Percent 0.8 Points
International 75.6 Percent 77.0 Percent -1.4 Points
Transatlantic 72.1 Percent 74.7 Percent -2.6 Points
Latin America 82.1 Percent 80.3 Percent 1.8 Points
Pacific 74.3 Percent 76.8 Percent -2.5 Points
Mainline 78.8 Percent 79.1 Percent -0.3 Points
Regional 76.1 Percent 75.5 Percent 0.6 Points
Consolidated 78.5 Percent 78.7 Percent -0.2 Points
ONBOARD PASSENGERS
Mainline 12,196,376 11,945,443 2.1 Percent
Regional 4,242,642 4,231,307 0.3 Percent
Consolidated 16,439,018 16,176,750 1.6 Percent
CARGO REVENUE TON MILES (000)
Total 261,294 254,071 2.8 Percent
PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS
MARCH 2008 2007 Change
On-Time Performance (1) 68.4% 71.2% (2.8)Points
Completion Factor (2) 98.9% 97.7% 1.2 Points
February 2008 year-over-year consolidated RASM change 5.4 Percent
February 2008 year-over-year mainline RASM change 5.3 Percent
March 2008 estimated year-over-year consolidated RASM
change 5.5 – 6.5 Percent
March 2008 estimated year-over-year mainline RASM
change 5.5 – 6.5 Percent
March 2008 estimated average price per gallon of fuel,
including fuel taxes 2.98 Dollars
First Quarter 2008 estimated average price per gallon
of fuel, including fuel taxes 2.80 Dollars
(1) Department of Transportation Arrivals within 14 minutes
(2) Mainline Segment Completion Percentage
