Continental Airlines Reports May Performance

Continental Airlines (NYSE: CAL) today
reported a May load factor of 72.2 percent, 3.7 points below last year`s May
load factor.

Continental achieved a near-record 86.2 percent on-time arrival rate.  The
airline also reported a May completion factor record of 99.4 percent.  “Once
again, we have shown that we consistently get our customers to their
destinations on time,” said Continental Executive Vice President and Chief
Operating Officer C.D. McLean.  “From an operational viewpoint, May was an
outstanding month for us.”

In May 2001, Continental flew 5.6 billion revenue passenger miles (RPMs)
and 7.8 billion available seat miles (ASMs), resulting in a traffic increase
of 2.2 percent and a capacity increase of 7.4 percent versus May 2000.
Domestic traffic was 3.5 billion RPMs, up 3 percent from May 2000, and
domestic capacity was 4.8 billion ASMs, up 6.4 percent from last year.
Continental experienced a decline in both load factor and yield in May
2001 as compared to May 2000, resulting in a decrease in system-wide passenger
revenue per available seat mile of approximately 9 to 11 percent.  This
decline was due to a continued softening in higher-yield business travel.  In
addition, Continental`s load factor and yield were higher in May 2000 than in
May 2001, in part, because labor disruptions at another major carrier in May
of last year diverted some passengers to Continental.
Continental Express, Continental`s wholly owned regional subsidiary,
reported a May load factor of 66 percent, 0.4 points above last year`s May
record.  Continental Express flew 319.3 million RPMs and 483.5 million ASMs in
May, resulting in a traffic increase of 26.2 percent and a capacity increase
of 25.3 percent, versus May 2000.