HOUSTON, April 1 /PRNewswire-FirstCall/ -- Continental Airlines today reported a March consolidated (mainline plus regional) load factor of 79.4 percent, 2.9 points below the March 2008 consolidated load factor, and a mainline load factor of 79.9 percent, 2.7 points below the March 2008 mainline load factor. In addition, the carrier reported a March domestic mainline load factor of 84.3 percent, 0.9 points below the March 2008 domestic mainline load factor, and a March international mainline load factor of 75.8 percent, 4.2 points below March 2008.
During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 74.2 percent and a mainline segment completion factor of 99.0 percent.
In March 2009, Continental flew 7.5 billion consolidated revenue passenger miles (RPMs) and 9.4 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic decrease of 9.7 percent and a consolidated capacity decrease of 6.4 percent as compared to March 2008. In March 2009, Continental flew 6.7 billion mainline RPMs and 8.3 billion mainline ASMs, resulting in a mainline traffic decrease of 10.0 percent and a mainline capacity decrease of 7.0 percent as compared to March 2008. Domestic mainline traffic was 3.4 billion RPMs in March 2009, down 12.4 percent from March 2008, and domestic mainline capacity was 4.0 billion ASMs, down 11.5 percent from March 2008.
For March 2009, consolidated passenger revenue per available seat mile (RASM) is estimated to have decreased between 19.5 and 20.5 percent compared to March 2008, while mainline passenger RASM is estimated to have decreased between 18.5 and 19.5 percent compared to March 2008.
For February 2009, consolidated passenger RASM decreased 11.5 percent compared to February 2008, while mainline passenger RASM decreased 10.0 percent compared to February 2008.
Continental ended the first quarter 2009 with an unrestricted cash, cash equivalents and short-term investments balance of approximately $2.65 billion.
Continental's regional operations had a March load factor of 75.7 percent, 4.0 points below the March 2008 regional load factor. Regional RPMs were 815.9 million and regional ASMs were 1,078.0 million in March 2009, resulting in a traffic decrease of 7.2 percent and a capacity decrease of 2.2 percent versus March 2008.
Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,800 daily departures throughout the Americas, Europe and Asia, serving 135 domestic and 132 international destinations. More than 650 additional points are served via current alliance partners. With more than 42,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with Continental Express, carries approximately 67 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 MARCH 2009 2008 Change REVENUE PASSENGER MILES (000) Domestic 3,390,269 3,870,731 -12.4 Percent International 3,277,526 3,541,997 -7.5 Percent Transatlantic 1,565,813 1,716,250 -8.8 Percent Latin America 1,113,772 1,169,405 -4.8 Percent Pacific 597,941 656,342 -8.9 Percent Mainline 6,667,795 7,412,728 -10.0 Percent Regional 815,944 878,815 -7.2 Percent Consolidated 7,483,739 8,291,543 -9.7 Percent AVAILABLE SEAT MILES (000) Domestic 4,020,884 4,542,933 -11.5 Percent International 4,326,643 4,428,434 -2.3 Percent Transatlantic 2,135,950 2,203,699 -3.1 Percent Latin America 1,390,708 1,381,112 0.7 Percent Pacific 799,985 843,623 -5.2 Percent Mainline 8,347,527 8,971,367 -7.0 Percent Regional 1,078,034 1,102,732 -2.2 Percent Consolidated 9,425,561 10,074,099 -6.4 Percent PASSENGER LOAD FACTOR Domestic 84.3 Percent 85.2 Percent -0.9 Points International 75.8 Percent 80.0 Percent -4.2 Points Transatlantic 73.3 Percent 77.9 Percent -4.6 Points Latin America 80.1 Percent 84.7 Percent -4.6 Points Pacific 74.7 Percent 77.8 Percent -3.1 Points Mainline 79.9 Percent 82.6 Percent -2.7 Points Regional 75.7 Percent 79.7 Percent -4.0 Points Consolidated 79.4 Percent 82.3 Percent -2.9 Points ONBOARD PASSENGERS Mainline 3,994,311 4,539,771 -12.0 Percent Regional 1,503,202 1,578,906 -4.8 Percent Consolidated 5,497,513 6,118,677 -10.2 Percent CARGO REVENUE TON MILES (000) Total 73,549 93,471 -21.3 Percent ( more ) PRELIMINARY TRAFFIC RESULTS YEAR-TO-DATE 2009 2008 Change REVENUE PASSENGER MILES (000) Domestic 8,909,320 10,428,767 -14.6 Percent International 8,780,258 9,494,327 -7.5 Percent Transatlantic 4,040,633 4,477,011 -9.7 Percent Latin America 3,105,758 3,182,659 -2.4 Percent Pacific 1,633,867 1,834,657 -10.9 Percent Mainline 17,689,578 19,923,094 -11.2 Percent Regional 2,099,797 2,356,778 -10.9 Percent Consolidated 19,789,375 22,279,872 -11.2 Percent AVAILABLE SEAT MILES (000) Domestic 11,176,555 12,726,078 -12.2 Percent International 12,175,408 12,551,799 -3.0 Percent Transatlantic 6,024,745 6,208,622 -3.0 Percent Latin America 3,933,991 3,875,205 1.5 Percent Pacific 2,216,672 2,467,972 -10.2 Percent Mainline 23,351,963 25,277,877 -7.6 Percent Regional 2,970,993 3,097,608 -4.1 Percent Consolidated 26,322,956 28,375,485 -7.2 Percent PASSENGER LOAD FACTOR Domestic 79.7 Percent 81.9 Percent -2.2 Points International 72.1 Percent 75.6 Percent -3.5 Points Transatlantic 67.1 Percent 72.1 Percent -5.0 Points Latin America 78.9 Percent 82.1 Percent -3.2 Points Pacific 73.7 Percent 74.3 Percent -0.6 Points Mainline 75.8 Percent 78.8 Percent -3.0 Points Regional 70.7 Percent 76.1 Percent -5.4 Points Consolidated 75.2 Percent 78.5 Percent -3.3 Points ONBOARD PASSENGERS Mainline 10,561,693 12,196,376 -13.4 Percent Regional 3,846,171 4,242,642 -9.3 Percent Consolidated 14,407,864 16,439,018 -12.4 Percent CARGO REVENUE TON MILES (000) Total 200,414 261,272 -23.3 Percent ( more ) PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS MARCH 2009 2008 Change On-Time Performance (1) 74.2% 68.4% 5.8 Points Completion Factor (2) 99.0% 98.9% 0.1 Points February 2009 year-over-year consolidated RASM change (11.5) Percent February 2009 year-over-year mainline RASM change (10.0) Percent March 2009 estimated year-over-year consolidated RASM change (19.5) - (20.5) Percent March 2009 estimated year-over-year mainline RASM change (18.5) - (19.5) Percent March 2009 estimated average price per gallon of fuel, including fuel taxes 1.68 Dollars First Quarter 2009 estimated average price per gallon of fuel, including fuel taxes 1.83 Dollars (1) Department of Transportation Arrivals within 14 minutes (2) Mainline Segment Completion Percentage
Continental Airlines
CONTACT: Corporate Communications of Continental Airlines,
+1-713-324-5080, corpcomm@coair.com
Web Site: http://www.continental.com/
