ontinental Airlines (NYSE: CAL) today reported a February consolidated (mainline plus regional) load factor of 77.7 percent, 5.2 points above the February 2009 consolidated load factor, and a mainline load factor of 78.1 percent, 5.2 points above the February 2009 mainline load factor. Both February load factors were records for the month.
HOUSTON – The carrier reported a domestic mainline February load factor of 80.6 percent, 2.9 points above the February 2009 domestic mainline load factor, and a record international mainline load factor of 75.9 percent, 7.5 points above February 2009.
During February, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 75.0 percent and a mainline segment completion factor of 95.4 percent. Continental’s operational results were adversely impacted by severe winter weather, particularly at its New York hub at Newark Liberty International Airport.
In February 2010, Continental flew 6.1 billion consolidated revenue passenger miles (RPMs) and 7.8 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic increase of 3.3 percent and a capacity decrease of 3.8 percent as compared to February 2009. In February 2010, Continental flew 5.4 billion mainline RPMs and 6.9 billion mainline ASMs, resulting in a mainline traffic increase of 3.2 percent and a mainline capacity decrease of 3.7 percent as compared to February 2009. Domestic mainline traffic was 2.7 billion RPMs in February 2010, down 0.5 percent from February 2009, and domestic mainline capacity was 3.3 billion ASMs, down 4.1 percent from February 2009.
For February 2010, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 7.5 and 8.5 percent compared to February 2009, while mainline RASM is estimated to have increased between 5.5 and 6.5 percent.
Continental estimates that the suspension of operations at its New York hub on February 10, 2010, and February 26, 2010, due to severe winter weather in the New York area reduced its consolidated passenger revenue for the month by approximately $25 million. The combination of available seat mile reductions caused by the two February snowstorms and the company’s re-accommodation of many customers who were impacted by its flight cancellations resulted in a year-over-year RASM benefit of approximately one percentage point, compared to the year-over-year RASM performance the company would have expected had the company flown the capacity it cancelled as a result of the storms.
For January 2010, consolidated passenger RASM decreased 1.3 percent compared to January 2009, while mainline passenger RASM decreased 2.8 percent compared to January 2009.
Continental’s regional operations had a February load factor of 74.6 percent, 5.3 points above the February 2009 regional load factor. Regional RPMs were 657.0 million and regional ASMs were 880.2 million in February 2010, resulting in a traffic increase of 3.5 percent and a capacity decrease of 4.0 percent versus February 2009.
Continental Airlines is the world’s fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,500 daily departures throughout the Americas, Europe and Asia, serving 133 domestic and 135 international destinations. Continental is a member of Star Alliance, which overall offers 19,700 daily flights to 1,077 airports in 175 countries through its 26 member airlines. With more than 41,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with its regional partners, carries approximately 63 million passengers per 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 2009 Form 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the potential for significant volatility in the cost of aircraft fuel, 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 continuing weakness in the U.S. and global economies, the airline pricing environment, terrorist attacks, regulatory matters, excessive taxation, industry consolidation and airline alliances, 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
FEBRUARY 2010 2009 Change
REVENUE PASSENGER
MILES (000)
Domestic 2,659,180 2,673,822 -0.5 Percent
International 2,752,470 2,568,348 7.2 Percent
Transatlantic 1,215,540 1,158,555 4.9 Percent
Latin America 989,790 931,769 6.2 Percent
Pacific 547,140 478,024 14.5 Percent
Mainline 5,411,650 5,242,170 3.2 Percent
Regional 657,000 635,057 3.5 Percent
Consolidated 6,068,650 5,877,227 3.3 Percent
AVAILABLE SEAT
MILES (000)
Domestic 3,300,279 3,439,946 -4.1 Percent
International 3,625,653 3,754,257 -3.4 Percent
Transatlantic 1,672,655 1,855,310 -9.8 Percent
Latin America 1,244,275 1,216,195 2.3 Percent
Pacific 708,723 682,752 3.8 Percent
Mainline 6,925,932 7,194,203 -3.7 Percent
Regional 880,233 917,000 -4.0 Percent
Consolidated 7,806,165 8,111,203 -3.8 Percent
PASSENGER LOAD FACTOR
Domestic 80.6 Percent 77.7 Percent 2.9 Points
International 75.9 Percent 68.4 Percent 7.5 Points
Transatlantic 72.7 Percent 62.4 Percent 10.3 Points
Latin America 79.5 Percent 76.6 Percent 2.9 Points
Pacific 77.2 Percent 70.0 Percent 7.2 Points
Mainline 78.1 Percent 72.9 Percent 5.2 Points
Regional 74.6 Percent 69.3 Percent 5.3 Points
Consolidated 77.7 Percent 72.5 Percent 5.2 Points
ONBOARD PASSENGERS
Mainline 3,138,019 3,182,980 -1.4 Percent
Regional 1,195,138 1,163,130 2.8 Percent
Consolidated 4,333,157 4,346,110 -0.3 Percent
CARGO REVENUE TON
MILES (000)
Total 78,335 63,763 22.9 Percent
PRELIMINARY TRAFFIC RESULTS
YEAR-TO-DATE 2010 2009 Change
REVENUE PASSENGER
MILES (000)
Domestic 5,571,841 5,519,051 1.0 Percent
International 6,118,289 5,502,733 11.2 Percent
Transatlantic 2,705,390 2,474,820 9.3 Percent
Latin America 2,157,252 1,991,986 8.3 Percent
Pacific 1,255,647 1,035,927 21.2 Percent
Mainline 11,690,130 11,021,784 6.1 Percent
Regional 1,353,803 1,283,853 5.4 Percent
Consolidated 13,043,933 12,305,637 6.0 Percent
AVAILABLE SEAT
MILES (000)
Domestic 7,024,535 7,155,672 -1.8 Percent
International 7,952,871 7,848,764 1.3 Percent
Transatlantic 3,619,871 3,888,795 -6.9 Percent
Latin America 2,693,658 2,543,282 5.9 Percent
Pacific 1,639,342 1,416,687 15.7 Percent
Mainline 14,977,406 15,004,436 -0.2 Percent
Regional 1,865,166 1,892,959 -1.5 Percent
Consolidated 16,842,572 16,897,395 -0.3 Percent
PASSENGER LOAD FACTOR
Domestic 79.3 Percent 77.1 Percent 2.2 Points
International 76.9 Percent 70.1 Percent 6.8 Points
Transatlantic 74.7 Percent 63.6 Percent 11.1 Points
Latin America 80.1 Percent 78.3 Percent 1.8 Points
Pacific 76.6 Percent 73.1 Percent 3.5 Points
Mainline 78.1 Percent 73.5 Percent 4.6 Points
Regional 72.6 Percent 67.8 Percent 4.8 Points
Consolidated 77.4 Percent 72.8 Percent 4.6 Points
ONBOARD PASSENGERS
Mainline 6,591,174 6,567,382 0.4 Percent
Regional 2,449,089 2,342,969 4.5 Percent
Consolidated 9,040,263 8,910,351 1.5 Percent
CARGO REVENUE TON
MILES (000)
Total 162,976 126,867 28.5 Percent
PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS
FEBRUARY 2010 2009 Change
On-Time Performance(1) 75.0% 77.7% (2.7) Points
Completion Factor(2) 95.4% 99.5% (4.1) Points
January 2010 year-over-year consolidated RASM change (1.3) Percent
January 2010 year-over-year mainline RASM change (2.8) Percent
February 2010 estimated year-over-year
consolidated RASM change 7.5 - 8.5 Percent
February 2010 estimated year-over-year mainline
RASM change 5.5 - 6.5 Percent
February 2010 estimated average price per gallon
of fuel, including fuel taxes 2.10 Dollars
First Quarter 2010 estimated average price per
gallon of fuel, including fuel taxes 2.13 Dollars
(1) Department of Transportation Arrivals within 14 minutes
(2) Mainline Segment Completion Percentage
Picture: Carstino Delmonte/ Touristikpresse.net
