Continental Airlines Reports December 2009 Operational Performance
HOUSTON, Jan. 4 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE: CAL) today reported a December consolidated (mainline plus regional) load factor of 83.0 percent, 3.1 points above the December 2008 consolidated load factor, and a mainline load factor of 83.5 percent, 3.1 points above the December 2008 mainline load factor. The carrier reported a domestic mainline December load factor of 85.1 percent, 1.1 points above the December 2008 domestic mainline load factor, and an international mainline load factor of 81.9 percent, 5.2 points above December 2008. All four December load factors were records for the month.
During December, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 70.7 percent and a mainline segment completion factor of 98.9 percent.
In December 2009, Continental flew 7.5 billion consolidated revenue passenger miles (RPMs) and 9.1 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic increase of 6.0 percent and a capacity increase of 2.1 percent as compared to December 2008. In December 2009, Continental flew 6.7 billion mainline RPMs and 8.1 billion mainline ASMs, resulting in a mainline traffic increase of 6.3 percent and a mainline capacity increase of 2.3 percent as compared to December 2008. Domestic mainline traffic was 3.5 billion RPMs in December 2009, up 3.5 percent from December 2008, and domestic mainline capacity was 4.1 billion ASMs, up 2.2 percent from December 2008.
For December 2009, consolidated passenger revenue per available seat mile (RASM) is estimated to have decreased between 3.5 and 4.5 percent compared to December 2008, while mainline RASM is estimated to have decreased between 4.5 and 5.5 percent. For November 2009, consolidated passenger RASM decreased 8.5 percent compared to November 2008, while mainline passenger RASM decreased 9.8 percent compared to November 2008.
Continental ended the fourth quarter 2009 with an unrestricted cash, cash equivalents and short-term investments balance of approximately $2.85 billion.
Continental's regional operations had a record December load factor of 78.5 percent, 2.4 points above the December 2008 regional load factor. Regional RPMs were 801.6 million and regional ASMs were 1,021.6 million in December 2009, resulting in a traffic increase of 3.2 percent and a capacity increase of 0.1 percent versus December 2008.
Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,400 daily departures throughout the Americas, Europe and Asia, serving 130 domestic and 132 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 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
DECEMBER 2009 2008 Change
REVENUE PASSENGER
MILES (000)
Domestic 3,465,116 3,349,536 3.5 Percent
International 3,271,551 2,985,120 9.6 Percent
Transatlantic 1,543,515 1,458,900 5.8 Percent
Latin America 1,058,463 980,140 8.0 Percent
Pacific 669,573 546,080 22.6 Percent
Mainline 6,736,667 6,334,656 6.3 Percent
Regional 801,609 776,457 3.2 Percent
Consolidated 7,538,276 7,111,113 6.0 Percent
AVAILABLE SEAT
MILES (000)
Domestic 4,072,820 3,986,616 2.2 Percent
International 3,992,193 3,894,269 2.5 Percent
Transatlantic 1,830,421 1,931,521 -5.2 Percent
Latin America 1,306,558 1,227,987 6.4 Percent
Pacific 855,214 734,761 16.4 Percent
Mainline 8,065,013 7,880,885 2.3 Percent
Regional 1,021,576 1,020,439 0.1 Percent
Consolidated 9,086,589 8,901,324 2.1 Percent
PASSENGER LOAD
FACTOR
Domestic 85.1 Percent 84.0 Percent 1.1 Points
International 81.9 Percent 76.7 Percent 5.2 Points
Transatlantic 84.3 Percent 75.5 Percent 8.8 Points
Latin America 81.0 Percent 79.8 Percent 1.2 Points
Pacific 78.3 Percent 74.3 Percent 4.0 Points
Mainline 83.5 Percent 80.4 Percent 3.1 Points
Regional 78.5 Percent 76.1 Percent 2.4 Points
Consolidated 83.0 Percent 79.9 Percent 3.1 Points
ONBOARD PASSENGERS
Mainline 3,832,101 3,787,693 1.2 Percent
Regional 1,460,884 1,412,373 3.4 Percent
Consolidated 5,292,985 5,200,066 1.8 Percent
CARGO REVENUE TON
MILES (000)
Total 96,925 71,635 35.3 Percent
( more )
PRELIMINARY TRAFFIC RESULTS
FULL YEAR 2009 2008 Change
REVENUE
PASSENGER MILES
(000)
Domestic 40,598,266 42,853,991 -5.3 Percent
International 39,225,614 39,952,762 -1.8 Percent
Transatlantic 20,026,140 21,273,224 -5.9 Percent
Latin America 11,645,641 11,632,551 0.1 Percent
Pacific 7,553,833 7,046,987 7.2 Percent
Mainline 79,823,880 82,806,753 -3.6 Percent
Regional 9,311,624 9,880,393 -5.8 Percent
Consolidated 89,135,504 92,687,146 -3.8 Percent
AVAILABLE SEAT
MILES (000)
Domestic 47,871,437 51,434,315 -6.9 Percent
International 49,535,086 51,092,516 -3.0 Percent
Transatlantic 25,136,879 27,606,158 -8.9 Percent
Latin America 14,343,126 14,219,042 0.9 Percent
Pacific 10,055,081 9,267,316 8.5 Percent
Mainline 97,406,523 102,526,831 -5.0 Percent
Regional 12,146,549 12,983,907 -6.4 Percent
Consolidated 109,553,072 115,510,738 -5.2 Percent
PASSENGER LOAD
FACTOR
Domestic 84.8 Percent 83.3 Percent 1.5 Points
International 79.2 Percent 78.2 Percent 1.0 Point
Transatlantic 79.7 Percent 77.1 Percent 2.6 Points
Latin America 81.2 Percent 81.8 Percent -0.6 Points
Pacific 75.1 Percent 76.0 Percent -0.9 Points
Mainline 81.9 Percent 80.8 Percent 1.1 Points
Regional 76.7 Percent 76.1 Percent 0.6 Points
Consolidated 81.4 Percent 80.2 Percent 1.2 Points
ONBOARD
PASSENGERS
Mainline 45,572,883 48,682,358 -6.4 Percent
Regional 17,236,501 18,010,050 -4.3 Percent
Consolidated 62,809,384 66,692,408 -5.8 Percent
CARGO REVENUE
TON MILES (000)
Total 949,196 1,005,894 -5.6 Percent
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PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS
DECEMBER 2009 2008 Change
On-Time Performance (1) 70.7% 63.3% 7.4 Points
Completion Factor (2) 98.9% 98.5% 0.4 Points
November 2009 year-over-year
consolidated RASM change (8.5) Percent
November 2009 year-over-year
mainline RASM change (9.8) Percent
December 2009 estimated year-over-year
consolidated RASM change (3.5) - (4.5) Percent
December 2009 estimated year-over-year
mainline RASM change (4.5) - (5.5) Percent
December 2009 estimated average price
per gallon of fuel, including fuel taxes 2.07 Dollars
Fourth Quarter 2009 estimated average price per
gallon of fuel, including fuel taxes 2.00 Dollars
(1) Department of Transportation Arrivals within 14 minutes
(2) Mainline Segment Completion Percentage
SOURCE Continental Airlines
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