Continental Airlines (NYSE: CAL)
today reported an October 2002 systemwide mainline jet load factor of
69.4 percent, 3.2 points above last year`s October load factor. For
October 2002, Continental reported an October domestic mainline jet load
factor of 70.1 percent and an international mainline jet load factor of
68.3 percent. Due to the events of September 11 last year, comparisons of
2002 versus 2001 do not provide a good historical benchmark. In order to
provide a more meaningful comparison, the attached traffic results chart also
includes a comparison of October 2002 with October 2000.
Continental reported an on-time arrival rate of 78.4 percent and a
completion factor of 99.5 percent for its mainline jet operations in
October 2002. Inclement weather affected Continental`s system 22 days in October, significantly lowering the airline`s on-time performance for that
In October 2002, Continental flew 4.7 billion mainline jet revenue
passenger miles (RPMs) and 6.8 billion mainline jet available seat miles
(ASMs) systemwide, resulting in a traffic increase of 16.7 percent and a
capacity increase of 11.3 percent as compared to October 2001. Domestic
mainline jet traffic was 2.9 billion RPMs in October 2002, up 6.3 percent from
October 2001, and October 2002 domestic mainline jet capacity was 4.1 billion
ASMs, up 9.4 percent from October 2001.
Systemwide October 2002 mainline jet passenger revenue per available seat
mile (RASM) is estimated to have increased between 8 and 10 percent compared
to October 2001 and decreased between 15 and 17 percent compared to
October 2000. For September 2002, RASM increased 10.8 percent as compared to
September 2001 and declined 17.6 percent as compared to September 2000.
Consolidated breakeven load factor for November 2002 is estimated to be
83 percent. Consolidated breakeven load factor for October 2002 is estimated
to have been 80 percent. Actual November consolidated breakeven load factor
may vary significantly from this estimate depending on actual passenger
revenue yields, fuel price and other factors. Month-to-date consolidated load
factor information can be found on Continental`s website at continental.com in
the Investor Relations-Financial/Traffic Releases section.
ExpressJet Airlines, a subsidiary of Continental Airlines doing business
as Continental Express, separately reported an October load factor of
63.3 percent for October 2002, 0.6 points above last year`s October load
factor. ExpressJet flew 347.5 million RPMs and 548.6 million ASMs in
October 2002, resulting in a traffic increase of 21.2 percent and a capacity
increase of 20.0 percent versus October 2001.
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 2001 10-K and its other securities filings, which identify important
matters such as terrorist attacks, domestic and international economic
conditions, the significant cost of aircraft fuel, labor costs, competition,
regulatory matters and industry conditions, including the demand for air
travel, the airline pricing environment and industry capacity decisions.