Continental Airlines Announces It Has Exercised Five Additional Options For The Boeing 737

Continental Airlines (NYSE: CAL and CAL.A) today announced that it has exercised five additional options on the 150-seat Boeing 737-800. This brings the total Boeing 737-800 options exercised this year to 15.

By the end of the year, Continental will have grown its fleet to 371 aircraft from 303 aircraft in 1995, a 22 percent increase. Also by the end of 2000, Continental’s average number of seats per plane will have increased to 148 from 137 in 1995 and the average jet fleet age will have been reduced to a low 6.8 years from 13.6 years in 1995.

By the end of 2002, Continental expects to increase its fleet to approximately 415 aircraft from 371 aircraft, another 12 percent increase, which will include 42 new 777s, 767-400s and 767-200s, and 373 757s, 737s, and MD-80s.

Almost 70 percent of Continental’s fleet will consist of common-rated Boeing 737 aircraft (-300, -500, -700 and -800 series), allowing for more flexibility in scheduling, pilot training efficiencies, greater crew flexibility, simplified maintenance and savings on spare part inventory costs. As previously announced, Continental also plans to acquire 15 of the Next-Generation Boeing 737-900 aircraft, to be delivered between May 2001 and July 2002.