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UNITED
STATES
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SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C. 20549
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FORM
8-K
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CURRENT
REPORT PURSUANT
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TO
SECTION 13 OR 15(d) OF THE
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SECURITIES
EXCHANGE ACT OF 1934
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Date
of Report (Date of earliest event reported): January 5,
2009
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CONTINENTAL
AIRLINES, INC.
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(Exact
Name of Registrant as Specified in Its
Charter)
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DELAWARE
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(State
or Other Jurisdiction of
Incorporation)
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1-10323
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74-2099724
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(Commission
File Number)
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(IRS
Employer Identification No.)
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1600
Smith Street, Dept. HQSEO, Houston, Texas
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77002
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(713)
324-2950
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(Registrant's
Telephone Number, Including Area
Code)
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______________________________________
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(Former
Name or Former Address, if Changed Since Last
Report)
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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):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
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(17
CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
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(17
CFR 240.13e-4(c))
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Item
8.01.
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Other
Events.
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On January 5, 2009, we issued a press
release announcing our December 2008 performance. The press release is filed
herewith as Exhibit 99.1 and is incorporated herein by reference.
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Item
9.01.
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Financial Statements
and Exhibits.
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(d)
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Exhibits
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99.1
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Press
Release for December Performance
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SIGNATURE
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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.
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CONTINENTAL
AIRLINES, INC.
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January
5, 2009
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By
/s/ Lori A.
Gobillot
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Lori
A. Gobillot
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Staff
Vice President and Assistant General
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Counsel
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EXHIBIT
INDEX
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99.1
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Press
Release for December Performance
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News
Release
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Exhibit
99.1
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Contact:
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Corporate
Communications
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Houston:
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713.324.5080
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Email:
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corpcomm@coair.com
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News
archive:
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continental.com/company/news/
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Address:
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P.O.
Box 4607, Houston,
TX 77210-4607
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CONTINENTAL AIRLINES REPORTS DECEMBER 2008 OPERATIONAL
PERFORMANCE
HOUSTON, Jan. 5, 2009 – Continental Airlines (NYSE: CAL) today reported a
December consolidated (mainline plus regional) load factor of 79.9 percent, 1.2
points above the December 2007 consolidated load factor. The carrier
reported a mainline load factor of 80.4 percent, 1.6 points above the December
2007 mainline load factor, and a domestic mainline December load factor of 84.0
percent, 2.6 points above the December 2007 domestic mainline load factor.
All three load factors were records for the month. In addition, the
airline reported an international mainline load factor of 76.6 percent, 0.5
points above December 2007.
During the month, Continental recorded a U.S. Department of
Transportation (DOT) on-time arrival rate of 63.3 percent and a mainline segment
completion factor of 98.5 percent. Continental’s on-time arrival rate was
negatively impacted by challenging winter weather conditions throughout its
operating network, including a very rare snow fall in Houston on Dec. 10.
In December 2008, Continental flew 7.1 billion consolidated revenue
passenger miles (RPMs) and 8.9 billion consolidated available seat miles (ASMs),
resulting in a consolidated traffic decrease of 6.7 percent and a capacity
decrease of 8.1 percent as compared to December 2007. In December 2008,
Continental flew 6.3 billion mainline RPMs and 7.9 billion mainline ASMs,
resulting in a mainline traffic decrease of 7.3 percent and a mainline capacity
decrease of 9.0 percent as compared to December 2007. Domestic mainline traffic
was 3.3 billion RPMs in December 2008, down 9.3 percent from December 2007, and
domestic mainline capacity was 4.0 billion ASMs, down 12.1 percent from December
2007.
For December 2008, consolidated passenger revenue per
available seat mile (RASM) is estimated to have increased between 3.5 and 4.5
percent compared to December 2007, while mainline passenger RASM is estimated to
have increased between 4.0 and 5.0 percent compared to December 2007.
For November 2008, consolidated passenger RASM increased
1.2 percent compared to November 2007, while mainline passenger RASM increased
2.4 percent compared to November 2007.
During the fourth quarter 2008, Continental raised $196
million in cash, after sales commissions, through the sale of 12.6 million
shares of Class B common stock at an average price to the public of $15.84 per
share pursuant to its equity distribution agreements with UBS Securities LLC and
Morgan Stanley & Co. Incorporated. Continental has concluded this
offering. Including the proceeds from this offering, Continental ended the
fourth quarter 2008 with an unrestricted cash and short-term investments balance
of $2.65 billion.
Continental’s regional operations had a December load
factor of 76.1 percent, 1.2 points below the December 2007 regional load factor.
Regional RPMs were 776.4 million and regional ASMs were 1,020.3 million in
December 2008, resulting in a traffic decrease of 2.0 percent and a capacity
decrease of 0.5 percent versus December 2007.
Continental Airlines is the world’s fifth largest
airline. Continental, together with Continental Express and Continental
Connection, has more than 2,500 daily departures throughout the Americas, Europe
and Asia, serving 134 domestic and 131 international destinations. More than 675
additional points are served via alliance partners. With more than 43,000
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, go to 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
volatility in the cost of aircraft fuel, the company’s transition to a new
global alliance, 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 consolidation, 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.
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DECEMBER
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2008
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2007
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Change
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REVENUE PASSENGER MILES (000)
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Domestic
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3,349,536
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3,692,343
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-9.3
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Percent
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International
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2,985,131
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3,138,375
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-4.9
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Percent
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Transatlantic
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1,458,911
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1,543,411
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-5.5
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Percent
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Latin America
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980,140
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976,440
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0.4
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Percent
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Pacific
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546,080
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618,524
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-11.7
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Percent
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Mainline
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6,334,667
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6,830,718
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-7.3
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Percent
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Regional
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776,397
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792,500
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-2.0
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Percent
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Consolidated
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7,111,064
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7,623,218
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-6.7
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Percent
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AVAILABLE SEAT MILES (000)
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Domestic
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3,986,616
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4,537,528
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-12.1
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Percent
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International
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3,894,519
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4,125,710
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-5.6
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Percent
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Transatlantic
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1,931,521
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2,021,735
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-4.5
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Percent
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Latin America
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1,227,987
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1,273,197
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-3.6
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Percent
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Pacific
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735,011
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830,778
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-11.5
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Percent
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Mainline
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7,881,135
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8,663,238
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-9.0
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Percent
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Regional
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1,020,331
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1,025,727
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-0.5
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Percent
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Consolidated
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8,901,466
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9,688,965
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-8.1
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Percent
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PASSENGER LOAD FACTOR
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Domestic
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84.0 Percent
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81.4 Percent
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2.6
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Points
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International
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76.6 Percent
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76.1 Percent
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0.5
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Points
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Transatlantic
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75.5
Percent
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76.3
Percent
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-0.8
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Points
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Latin America
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79.8
Percent
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76.7
Percent
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3.1
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Points
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Pacific
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74.3
Percent
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74.5
Percent
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-0.2
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Points
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Mainline
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80.4 Percent
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78.8 Percent
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1.6
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Points
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Regional
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76.1 Percent
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77.3 Percent
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-1.2
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Points
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Consolidated
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79.9 Percent
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78.7 Percent
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1.2
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Points
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ONBOARD PASSENGERS
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Mainline
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3,787,695
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4,145,405
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-8.6
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Percent
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Regional
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1,412,222
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1,432,261
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-1.4
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Percent
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Consolidated
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5,199,917
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5,577,666
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-6.8
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Percent
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CARGO REVENUE TON MILES (000)
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Total
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71,651
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92,231
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-22.3
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Percent
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PRELIMINARY TRAFFIC
RESULTS
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FULL YEAR
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2008
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2007
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Change
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REVENUE PASSENGER MILES (000)
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Domestic
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42,853,991
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45,356,239
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-5.5
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Percent
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International
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39,952,773
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38,953,687
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2.6
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Percent
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Transatlantic
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21,273,235
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20,136,822
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5.6
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Percent
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Latin America
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11,632,551
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11,174,860
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4.1
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Percent
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Pacific
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7,046,987
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7,642,005
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-7.8
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Percent
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Mainline
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82,806,764
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84,309,926
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-1.8
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Percent
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Regional
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9,880,333
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9,855,804
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0.2
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Percent
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Consolidated
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92,687,097
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94,165,730
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-1.6
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Percent
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AVAILABLE SEAT MILES (000)
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Domestic
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51,434,315
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54,090,839
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-4.9
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Percent
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International
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51,092,766
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49,048,119
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4.2
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Percent
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Transatlantic
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27,606,158
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25,350,543
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8.9
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Percent
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Latin America
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14,219,042
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13,875,830
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2.5
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Percent
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Pacific
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9,267,566
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9,821,746
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-5.6
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Percent
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|
|
|
|
|
|
|
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Mainline
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102,527,081
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103,138,958
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-0.6
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Percent
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Regional
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12,983,799
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12,598,869
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3.1
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Percent
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Consolidated
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115,510,880
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115,737,827
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-0.2
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Percent
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PASSENGER LOAD FACTOR
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|
|
|
|
|
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Domestic
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83.3 Percent
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83.9 Percent
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-0.6
|
|
Points
|
|
|
|
|
|
|
|
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International
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78.2 Percent
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79.4 Percent
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-1.2
|
|
Points
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|
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Transatlantic
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77.1
Percent
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79.4
Percent
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-2.3
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|
Points
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Latin America
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81.8
Percent
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80.5
Percent
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1.3
|
|
Points
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Pacific
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76.0
Percent
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77.8
Percent
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-1.8
|
|
Points
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|
|
|
|
|
|
|
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Mainline
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80.8 Percent
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81.7 Percent
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-0.9
|
|
Points
|
|
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Regional
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76.1 Percent
|
78.2 Percent
|
-2.1
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|
Points
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|
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Consolidated
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80.2 Percent
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81.4 Percent
|
-1.2
|
|
Points
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|
ONBOARD PASSENGERS
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Mainline
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48,682,360
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50,959,989
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-4.5
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Percent
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Regional
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18,009,899
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17,970,423
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0.2
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Percent
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Consolidated
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66,692,259
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68,930,412
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-3.2
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Percent
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CARGO REVENUE TON MILES (000)
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||
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Total
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1,006,327
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1,037,614
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-3.0
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Percent
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|
|
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|
|
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|
|
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PRELIMINARY OPERATIONAL AND
FINANCIAL RESULTS
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||||||
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DECEMBER
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2008
|
2007
|
Change
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|||
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On-Time Performance 1
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63.3%
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66.4%
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(3.1)
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Points
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||
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Completion Factor 2
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98.5%
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98.4%
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0.1
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Points
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||
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November 2008 year-over-year consolidated
RASM change
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1.2
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Percent
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||||
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November 2008 year-over-year mainline
RASM change
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2.4
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Percent
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||||
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December 2008 estimated year-over-year
consolidated RASM change
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3.5 - 4.5
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Percent
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||||
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December 2008 estimated year-over-year
mainline RASM change
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4.0 - 5.0
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Percent
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||||
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December 2008 estimated average price per
gallon of fuel, including fuel taxes
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2.34
|
Dollars
|
||||
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Fourth Quarter 2008 estimated average
price per gallon of fuel, including fuel taxes
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2.92
|
Dollars
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||||
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1 Department of
Transportation Arrivals within 14 minutes
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2 Mainline Segment
Completion Percentage
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###
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