Continental Airlines Reports June 2009 Operational Performance
HOUSTON, July 1 — Continental Airlines (NYSE: CAL) today reported a June consolidated (mainline plus regional) load factor of 84.8 percent, 1.1 points above the June 2008 consolidated load factor, and a mainline load factor of 85.2 percent, 1.0 point above the June 2008 mainline load factor. The carrier reported an all time record domestic mainline June load factor of 88.1 percent, 2.2 points above the June 2008 domestic mainline load factor, and an international mainline load factor of 82.5 percent, 0.1 points above June 2008.
During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 80.5 percent and a mainline segment completion factor of 99.8 percent.
In June 2009, Continental flew 8.1 billion consolidated revenue passenger miles (RPMs) and 9.5 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic decrease of 6.5 percent and a capacity decrease of 7.8 percent as compared to June 2008. In June 2009, Continental flew 7.2 billion mainline RPMs and 8.5 billion mainline ASMs, resulting in a mainline traffic decrease of 6.3 percent and a mainline capacity decrease of 7.5 percent as compared to June 2008. Domestic mainline traffic was 3.7 billion RPMs in June 2009, down 6.5 percent from June 2008, and domestic mainline capacity was 4.2 billion ASMs, down 8.8 percent from June 2008.
For June 2009, both consolidated and mainline passenger revenue per available seat mile (RASM) are estimated to have decreased between 19.5 and 20.5 percent compared to June 2008. For May 2009, consolidated passenger RASM decreased 19.9 percent compared to May 2008, while mainline passenger RASM decreased 19.1 percent compared to May 2008.
Continental ended the second quarter 2009 with an unrestricted cash, cash equivalents and short-term investments balance of approximately $2.77 billion.
Continental’s regional operations had a June load factor of 81.5 percent, 1.8 points above the June 2008 regional load factor. Regional RPMs were 846.5 million and regional ASMs were 1,038.8 million in June 2009, resulting in a traffic decrease of 8.2 percent and a capacity decrease of 10.3 percent versus June 2008.
Continental Airlines is the world’s fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,750 daily departures throughout the Americas, Europe and Asia, serving 133 domestic and 132 international destinations. More than 750 additional points are served via current alliance partners. With more than 43,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with its regional partners, 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.
SOURCE Continental Airlines