Continental Airlines Reports Performance

PRNewswire-FirstCall HOUSTON Dec. 1 :

Continental Airlines today reported a record November systemwide mainline
load factor of 75.3 percent, 5.5 points above last year`s November load
factor. In addition, the airline had a record November domestic mainline
load factor of 74.7 percent, 4.5 points above November 2002, and a record
international mainline load factor of 76.3 percent, 7.2 points above
November 2002.
During the month, Continental recorded a U.S. Department of Transportation
on-time arrival rate of 78.7 percent and a systemwide mainline completion
factor of 99.5 percent.
In November 2003, Continental flew 4.7 billion mainline revenue passenger
miles (RPMs) and 6.3 billion mainline available seat miles (ASMs)
systemwide, resulting in a traffic increase of 8.7 percent and a capacity
increase of 0.7 percent as compared to November 2002. Domestic mainline
traffic was 2.9 billion RPMs in November 2003, up 6.7 percent from
November 2002, and domestic mainline capacity was 3.9 billion ASMs, up 0.3
percent from November 2002.
Systemwide November 2003 passenger revenue per available seat mile (RASM)
is estimated to have increased between 4.5 and 5.5 percent compared to
November 2002. For October 2003, RASM increased 4.4 percent as compared to
October 2002.
Continental`s regional operations (Continental Express) set a record
November load factor of 70.2 percent, 7.1 points above last year`s
November load factor. Regional RPMs were 523.6 million and regional ASMs
were 745.6 million in November 2003, resulting in a traffic increase of
51.7 percent and a capacity increase of 36.4 percent versus November 2002.

In November, Continental sold its entire investment in Hotwire, resulting
in a net gain of approximately $37 million ($23 million after income
taxes).

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 2002 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. 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.
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