Highest Profit Sharing Distribution of any U.S. Carrier This Year; Largest in Continental’s History
HOUSTON — „When we work together, we win together, and my co-workers are sharing Continental’s success through profit sharing,“ Continental Chairman and CEO Larry Kellner said. „We all worked together in 2006 to deliver solid financial and operational results, and my co-workers will now receive $111 million in cash as a result of the best profit sharing program in the industry.“
The carrier recorded net income of $343 million in 2006. This marks the first Continental profit sharing payment since the payment for the 2000 results. The $111 million distribution is both the highest of any U.S. carrier this year and the highest profit sharing distribution in Continental’s history.
Kellner will hand out profit sharing checks tomorrow at the airline’s hub at Newark Liberty International Airport, while President Jeff Smisek will distribute profit sharing to the airline’s employees at the company’s Bush Intercontinental Airport hub and other Houston locations. Continental’s Airport Services Senior Vice President, Bill Meehan, will present profit- sharing to Continental’s employees at the airline’s hub at Cleveland Hopkins International Airport. Other Continental officers will travel to many other locations throughout the Continental system to distribute profit sharing.
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 150 domestic and 136 international destinations. More than 400 additional points are served via SkyTeam alliance airlines. With more than 44,000 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.
In 2006, Continental Airlines won its sixth J.D. Power and Associates award since 1996. The carrier received the highest rank in customer satisfaction among network carriers in North America in the J.D. Power and Associates 2006 Airline Satisfaction Index Survey(SM). For the third consecutive year, FORTUNE magazine named Continental the No. 1 Most Admired Global Airline on its 2006 list of Most Admired Global Companies. Continental was also named the No. 1 airline on the publication’s 2006 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 third year in a row, and „Best Executive/Business Class“ for the fourth consecutive year. For more company information, visit continental.com.