Continental Airlines Reaches Tentative Agreement On Contract Extension With Flight Attendants

International Association of Machinists and Aerospace Workers and Continental Airlines (NYSE: CAI.B and CAI.A) today announced a tentative agreement on an extension of their contract, improving pay, benefits and job security for Flight Attendants at Continental.

The current agreement between the parties was not scheduled to be reopened until late next year.

The contract extension, which is subject to Flight Attendant ratification, will be amendable in December 2001.

This is the fourth labor agreement that Continental has reached with its employees this year. Previous contracts were reached between the company and the Continental pilots, Continental Express pilots and Continental dispatchers.
Specific terms of the contract extension will be released by the union to its members during the ratification process.

Continental does not anticipate making further public comment during the ratification process.