View:
Download DOC
Download PDF
Download XLS
UNITED STATES

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 2, 2008

CONTINENTAL AIRLINES, INC.

(Exact Name of Registrant as Specified in Its Charter)

DELAWARE

(State or Other Jurisdiction of Incorporation)

1-10323

74-2099724

(Commission File Number)

(IRS Employer Identification No.)

1600 Smith Street, Dept. HQSEO, Houston, Texas

77002

(Address of Principal Executive Offices)

(Zip Code)

(713) 324-2950

(Registrant's Telephone Number, Including Area Code)

______________________________________

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

(17 CFR 240.14d-2(b))
 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

(17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On June 2, 2008, we issued a press release announcing our May 2008 performance. The press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits
 

99.1

Press Release for May Performance
     

 

 

SIGNATURE

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, Continental Airlines, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

CONTINENTAL AIRLINES, INC.

 

 

June 2, 2008

By  /s/ Chris Kenny

      Chris Kenny

Vice President and Controller

 

 

 

 

 

 

 

 

 

 

 

 

EXHIBIT INDEX

99.1

Press Release for May Performance
   

 

 

News Release

EXHIBIT 99.1

News Release

Contact: Corporate Communications

Houston: 713.324.5080

Email: corpcomm@coair.com

News archive: continental.com/company/news/ Address: P.O. Box 4607, Houston, TX 77210-4607

 

CONTINENTAL AIRLINES REPORTS MAY 2008

OPERATIONAL PERFORMANCE

HOUSTON, June 2, 2008 - Continental Airlines (NYSE: CAL) today reported a May consolidated (mainline plus regional) load factor of 81.2 percent, 0.3 points below the May 2007 consolidated load factor, and a mainline load factor of 81.3 percent, 0.4 points below the May 2007 mainline load factor. In addition, the carrier reported a domestic mainline May load factor of 84.4 percent, the same as reported for May 2007, and an international mainline load factor of 78.3 percent, 0.4 points below May 2007.

During the month, Continental recorded a U.S. Department of Transportation on-time arrival rate of 75.4 percent and a mainline segment completion factor of 99.7 percent.

In May 2008, Continental flew 8.3 billion consolidated revenue passenger miles (RPMs) and 10.2 billion consolidated available seat miles (ASMs), resulting in a traffic increase of 1.8 percent and a capacity increase of 2.2 percent as compared to May 2007. In May 2008, Continental flew 7.4 billion mainline RPMs and 9.0 billion mainline ASMs, resulting in a mainline traffic increase of 1.1 percent and a mainline capacity increase of 1.5 percent as compared to May 2007. Domestic mainline traffic was 3.8 billion RPMs in May 2008, down 4.0 percent from May 2007, and domestic mainline capacity was 4.5 billion ASMs, down 3.9 percent from May 2007.

For May 2008, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 6.5 and 7.5 percent compared to May 2007, while mainline passenger RASM is estimated to have increased between 6.0 and 7.0 percent compared to May 2007. For April 2008, consolidated passenger RASM increased 2.9 percent compared to April 2007, while mainline passenger RASM increased 1.6 percent compared to April 2007.

Continental's regional operations had a May load factor of 79.8 percent, the same as reported for May 2007. Regional RPMs were 920.4 million and regional ASMs were 1,153.8 million in May 2008, resulting in a traffic increase of 7.8 percent and a capacity increase of 7.9 percent versus May 2007.

Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 3,100 daily departures throughout the Americas, Europe and Asia, serving 145 domestic and 138 international destinations. More than 550 additional points are served via SkyTeam alliance airlines.  With more than 45,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with Continental Express, carries approximately 69 million passengers per year.

Continental consistently earns awards and critical acclaim for both its operation and its corporate culture. For the fifth consecutive year, FORTUNE magazine named Continental the No. 1 World's Most Admired Airline on its 2008 list of World's Most Admired Companies. For more company information, visit continental.com.

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 2007 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the consequences of the company's high leverage, the significant cost of aircraft fuel, delays in scheduled aircraft deliveries, its high labor and pension costs, service interruptions at one of its hub airports, disruptions to the operations of its regional operators, disruptions in its computer systems, and industry conditions, including the airline pricing environment, industry capacity decisions, industry cons olidation, terrorist attacks, regulatory matters, excessive taxation, the availability and cost of insurance, public health threats, an economic downturn in the U.S. and global economies and the seasonal nature of the airline business. 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, except as required by applicable law.

 

PRELIMINARY TRAFFIC RESULTS

MAY

2008

2007

Change

REVENUE PASSENGER MILES (000)

Domestic

3,792,761

3,949,056

-4.0

Percent

International

3,567,213

3,334,158

7.0

Percent

Transatlantic

2,000,949

1,818,524

10.0

Percent

Latin America

968,837

872,869

11.0

Percent

Pacific

597,427

642,765

-7.1

Percent

Mainline

7,359,974

7,283,214

1.1

Percent

Regional

920,376

853,715

7.8

Percent

Consolidated

8,280,350

8,136,929

1.8

Percent

AVAILABLE SEAT MILES (000)

Domestic

4,495,504

4,678,730

-3.9

Percent

International

4,553,042

4,233,886

7.5

Percent

Transatlantic

2,570,070

2,290,567

12.2

Percent

Latin America

1,199,265

1,107,237

8.3

Percent

Pacific

783,707

836,082

-6.3

Percent

Mainline

9,048,546

8,912,616

1.5

Percent

Regional

1,153,844

1,069,223

7.9

Percent

Consolidated

10,202,390

9,981,839

2.2

Percent

PASSENGER LOAD FACTOR

Domestic

84.4 Percent

84.4 Percent

0.0

Points

International

78.3 Percent

78.7 Percent

-0.4

Points

Transatlantic

77.9 Percent

79.4 Percent

-1.5

Points

Latin America

80.8 Percent

78.8 Percent

2.0

Points

Pacific

76.2 Percent

76.9 Percent

-0.7

Points

Mainline

81.3 Percent

81.7 Percent

-0.4

Points

Regional

79.8 Percent

79.8 Percent

0.0

Points

Consolidated

81.2 Percent

81.5 Percent

-0.3

Points

ONBOARD PASSENGERS

Mainline

4,315,003

4,435,191

-2.7

Percent

Regional

1,679,167

1,587,007

5.8

Percent

Consolidated

5,994,170

6,022,198

-0.5

Percent

CARGO REVENUE TON MILES (000)

Total

87,016

83,501

4.2

Percent

 

 

PRELIMINARY TRAFFIC RESULTS

YEAR-TO-DATE

2008

2007

Change

REVENUE PASSENGER MILES (000)

Domestic

17,860,011

18,158,369

-1.6

Percent

International

16,372,850

15,220,990

7.6

Percent

Transatlantic

8,247,066

7,373,902

11.8

Percent

Latin America

5,168,271

4,760,206

8.6

Percent

Pacific

2,957,513

3,086,882

-4.2

Percent

Mainline

34,232,861

33,379,359

2.6

Percent

Regional

4,162,783

4,059,938

2.5

Percent

Consolidated

38,395,644

37,439,297

2.6

Percent

AVAILABLE SEAT MILES (000)

Domestic

21,562,134

21,964,625

-1.8

Percent

International

21,489,991

19,541,558

10.0

Percent

Transatlantic

11,127,672

9,542,412

16.6

Percent

Latin America

6,362,853

5,953,714

6.9

Percent

Pacific

3,999,466

4,045,432

-1.1

Percent

Mainline

43,052,125

41,506,183

3.7

Percent

Regional

5,389,366

5,266,129

2.3

Percent

Consolidated

48,441,491

46,772,312

3.6

Percent

PASSENGER LOAD FACTOR

Domestic

82.8 Percent

82.7 Percent

0.1

Points

International

76.2 Percent

77.9 Percent

-1.7

Points

Transatlantic

74.1 Percent

77.3 Percent

-3.2

Points

Latin America

81.2 Percent

80.0 Percent

1.2

Points

Pacific

73.9 Percent

76.3 Percent

-2.4

Points

Mainline

79.5 Percent

80.4 Percent

-0.9

Points

Regional

77.2 Percent

77.1 Percent

0.1

Points

Consolidated

79.3 Percent

80.0 Percent

-0.7

Points

ONBOARD PASSENGERS

Mainline

20,723,878

20,747,876

-0.1

Percent

Regional

7,531,806

7,358,883

2.3

Percent

Consolidated

28,255,684

28,106,759

0.5

Percent

CARGO REVENUE TON MILES (000)

Total

438,738

423,830

3.5

Percent

 

 

PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS

MAY

2008

2007

Change

On-Time Performance 1

75.4%

75.1%

0.3

Points

Completion Factor 2

99.7%

99.7%

-

Points

April 2008 year-over-year consolidated RASM change

2.9

Percent

April 2008 year-over-year mainline RASM change

1.6

Percent

May 2008 estimated year-over-year consolidated RASM change

6.5 - 7.5

Percent

May 2008 estimated year-over-year mainline RASM change

6.0 - 7.0

Percent

May 2008 estimated average price per gallon of fuel, including fuel taxes

3.43

Dollars

Second Quarter 2008 estimated average price per gallon of fuel, including fuel taxes

3.41

Dollars

1 Department of Transportation Arrivals within 14 minutes

2 Mainline segment completion percentage

###