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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): April 1,
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 April 1, 2009, we issued a press
release announcing our March 2009 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 March 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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April
1, 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 March 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 MARCH 2009
OPERATIONAL
PERFORMANCE
HOUSTON,
April 1, 2009 – Continental Airlines (NYSE: CAL) today reported a March
consolidated (mainline plus regional) load factor of 79.4 percent, 2.9 points below the March
2008 consolidated load factor, and a mainline load factor of 79.9 percent,
2.7 points below
the March 2008 mainline load factor. In addition, the carrier reported a
March domestic mainline load factor of 84.3 percent, 0.9 points below the March
2008 domestic mainline load factor, and a March international mainline load
factor of 75.8 percent, 4.2 points below March 2008.
During
the month, Continental recorded a U.S. Department of Transportation (DOT)
on-time arrival rate of 74.2 percent and a mainline segment completion factor of
99.0 percent.
In March
2009, Continental flew 7.5 billion consolidated revenue passenger miles (RPMs)
and 9.4 billion consolidated available seat miles (ASMs), resulting in a
consolidated traffic decrease of 9.7 percent and a consolidated capacity
decrease of 6.4 percent as compared to March 2008. In March 2009, Continental
flew 6.7 billion mainline RPMs and 8.3 billion mainline ASMs, resulting in a
mainline traffic decrease of 10.0 percent and a mainline capacity decrease of
7.0 percent as compared to March 2008. Domestic mainline traffic was 3.4 billion
RPMs in March 2009, down 12.4 percent from March 2008, and domestic mainline
capacity was 4.0 billion ASMs, down 11.5 percent from March 2008.
For March
2009, consolidated passenger revenue per available seat mile (RASM) is estimated
to have decreased between 19.5 and 20.5 percent compared to March 2008, while
mainline passenger RASM is estimated to have decreased between 18.5 and 19.5
percent compared to March 2008.
For
February 2009, consolidated passenger RASM decreased 11.5 percent compared to
February 2008, while mainline passenger RASM decreased 10.0 percent compared to
February 2008.
Continental
ended the first quarter 2009 with an unrestricted cash, cash equivalents and
short-term investments balance of approximately $2.65 billion. Continental’s
regional operations had a March load factor of 75.7 percent, 4.0 points below the March
2008 regional load factor. Regional RPMs were 815.9 million and regional ASMs
were 1,078.0 million in March 2009, resulting in a traffic decrease of 7.2
percent and a capacity decrease of 2.2 percent versus March 2008.
Continental
Airlines is the world’s fifth largest airline. Continental, together with
Continental Express and Continental Connection, has more than 2,800 daily
departures throughout the Americas, Europe and Asia, serving 135 domestic and
132 international destinations. More than 650 additional points are served via
current alliance partners. With more than 42,000 employees, Continental
has hubs serving New York, Houston, Cleveland and Guam, and together with
Continental Express, carries approximately 67 million passengers per
year.
Celebrating
its 75th anniversary this year, Continental consistently earns awards and
critical acclaim for both its operation and its corporate culture. For the
sixth consecutive year, FORTUNE magazine named Continental the No. 1 World's
Most Admired Airline on its 2009 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 2008 Form 10-K and its other
securities filings, including any amendments thereto, which identify important
matters such as the significant volatility in the cost of aircraft fuel, its
transition to a new global alliance, the consequences of its high leverage and
other significant capital commitments, its high labor and pension costs, delays
in scheduled aircraft deliveries, 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 recession in the
U.S. and global economies, the airline pricing environment, terrorist attacks,
regulatory matters, excessive taxation, industry consolidation, the availability
and cost of insurance, public health threats 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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PRELIMINARY
TRAFFIC RESULTS
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MARCH
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2009
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2008
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Change
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REVENUE
PASSENGER MILES (000)
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Domestic
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3,390,269
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3,870,731
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-12.4
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Percent
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International
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3,277,526
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3,541,997
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-7.5
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Percent
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Transatlantic
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1,565,813
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1,716,250
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-8.8
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Percent
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Latin
America
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1,113,772
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1,169,405
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-4.8
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Percent
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Pacific
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597,941
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656,342
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-8.9
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Percent
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Mainline
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6,667,795
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7,412,728
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-10.0
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Percent
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Regional
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815,944
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878,815
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-7.2
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Percent
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Consolidated
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7,483,739
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8,291,543
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-9.7
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Percent
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AVAILABLE
SEAT MILES (000)
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Domestic
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4,020,884
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4,542,933
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-11.5
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Percent
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International
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4,326,643
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4,428,434
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-2.3
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Percent
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Transatlantic
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2,135,950
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2,203,699
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-3.1
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Percent
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Latin
America
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1,390,708
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1,381,112
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0.7
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Percent
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Pacific
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799,985
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843,623
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-5.2
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Percent
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Mainline
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8,347,527
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8,971,367
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-7.0
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Percent
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Regional
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1,078,034
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1,102,732
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-2.2
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Percent
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Consolidated
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9,425,561
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10,074,099
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-6.4
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Percent
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PASSENGER
LOAD FACTOR
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Domestic
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84.3
Percent
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85.2
Percent
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-0.9
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Points
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International
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75.8
Percent
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80.0
Percent
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-4.2
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Points
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Transatlantic
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73.3
Percent
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77.9
Percent
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-4.6
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Points
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Latin
America
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80.1
Percent
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84.7
Percent
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-4.6
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Points
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Pacific
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74.7
Percent
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77.8
Percent
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-3.1
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Points
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Mainline
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79.9
Percent
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82.6
Percent
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-2.7
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Points
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Regional
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75.7
Percent
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79.7
Percent
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-4.0
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Points
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Consolidated
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79.4
Percent
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82.3
Percent
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-2.9
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Points
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ONBOARD
PASSENGERS
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Mainline
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3,994,311
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4,539,771
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-12.0
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Percent
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Regional
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1,503,202
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1,578,906
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-4.8
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Percent
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Consolidated
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5,497,513
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6,118,677
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-10.2
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Percent
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CARGO
REVENUE TON MILES (000)
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Total
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73,549
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93,471
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-21.3
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Percent
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PRELIMINARY
TRAFFIC RESULTS
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YEAR-TO-DATE
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2009
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2008
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Change
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REVENUE
PASSENGER MILES (000)
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Domestic
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8,909,320
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10,428,767
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-14.6
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Percent
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International
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8,780,258
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9,494,327
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-7.5
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Percent
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Transatlantic
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4,040,633
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4,477,011
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-9.7
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Percent
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Latin
America
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3,105,758
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3,182,659
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-2.4
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Percent
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Pacific
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1,633,867
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1,834,657
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-10.9
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Percent
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Mainline
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17,689,578
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19,923,094
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-11.2
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Percent
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Regional
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2,099,797
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2,356,778
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-10.9
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Percent
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Consolidated
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19,789,375
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22,279,872
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-11.2
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Percent
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AVAILABLE
SEAT MILES (000)
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Domestic
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11,176,555
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12,726,078
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-12.2
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Percent
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International
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12,175,408
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12,551,799
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-3.0
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Percent
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Transatlantic
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6,024,745
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6,208,622
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-3.0
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Percent
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Latin
America
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3,933,991
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3,875,205
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1.5
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Percent
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Pacific
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2,216,672
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2,467,972
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-10.2
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Percent
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Mainline
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23,351,963
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25,277,877
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-7.6
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Percent
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Regional
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2,970,993
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3,097,608
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-4.1
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Percent
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Consolidated
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26,322,956
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28,375,485
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-7.2
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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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79.7
Percent
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81.9
Percent
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-2.2
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Points
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International
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72.1
Percent
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75.6
Percent
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-3.5
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Points
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Transatlantic
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67.1
Percent
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72.1
Percent
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-5.0
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Points
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Latin
America
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78.9
Percent
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82.1
Percent
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-3.2
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Points
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Pacific
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73.7
Percent
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74.3
Percent
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-0.6
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Points
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Mainline
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75.8
Percent
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78.8
Percent
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-3.0
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Points
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Regional
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70.7
Percent
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76.1
Percent
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-5.4
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Points
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Consolidated
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75.2
Percent
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78.5
Percent
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-3.3
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Points
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ONBOARD
PASSENGERS
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||||||
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Mainline
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10,561,693
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12,196,376
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-13.4
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Percent
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Regional
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3,846,171
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4,242,642
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-9.3
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Percent
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Consolidated
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14,407,864
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16,439,018
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-12.4
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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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200,414
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261,272
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-23.3
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Percent
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PRELIMINARY
OPERATIONAL AND FINANCIAL RESULTS
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MARCH
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2009
|
2008
|
Change
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On-Time
Performance 1
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74.2%
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68.4%
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5.8
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Points
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Completion
Factor 2
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99.0%
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98.9%
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0.1
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Points
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February
2009 year-over-year consolidated RASM change
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(11.5)
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Percent
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February
2009 year-over-year mainline RASM change
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(10.0)
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Percent
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||||
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March
2009 estimated year-over-year consolidated RASM change
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(19.5)
- (20.5)
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Percent
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||||
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March
2009 estimated year-over-year mainline RASM change
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(18.5)
- (19.5)
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Percent
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||||
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March
2009 estimated average price per gallon of fuel, including fuel
taxes
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1.68
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Dollars
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First
Quarter 2009 estimated average price per gallon of fuel, including fuel
taxes
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1.83
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Dollars
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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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