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):
May 1, 2002
CONTINENTAL AIRLINES, INC.
(Exact name of registrant as specified in its charter)
Delaware |
1-10323 |
74-2099724 |
(State or other jurisdiction |
(Commission File Number) |
(IRS Employer |
of incorporation) |
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)
Item 5. Other Events.
On May 1, 2002, Continental Airlines, Inc. issued a press release announcing its April performance. The press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
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.
By /s/ Jennifer L. Vogel
Jennifer L. Vogel
Vice President and General Counsel
May 1, 2002
EXHIBIT INDEX
EXHIBIT 99.1
News Release
Contact:
Corporate CommunicationsHouston: 713.324.5080
Email: corpcomm@coair.com
News archive: continental.com/news/ Address: P.O. Box 4607, Houston, TX 77210-4607
CONTINENTAL AIRLINES REPORTS APRIL 2002 PERFORMANCE
HOUSTON, May 1, 2002 - Continental Airlines (NYSE: CAL) today reported a systemwide April 2002 load factor of 73.5 percent, 0.6 points below last year's load factor. For April 2002, Continental reported a domestic load factor of 74.6 percent and an international load factor of 71.5 percent. The movement of Easter from April last year to late March this year contributed to the load factor decrease compared to April 2001.
For April 2002, Continental reported a record on-time arrival rate of 87.9 percent and a record completion factor of 99.9 percent for April 2002. The record April completion factor also tied February and March 2002 for the company record.
In April 2002, Continental flew 4.9 billion revenue passenger miles (RPMs) systemwide and 6.6 billion available seat miles (ASMs), resulting in a traffic decrease of 11.7 percent and a capacity decrease of 11.0 percent versus April 2001. Domestic traffic was 3.1 billion RPMs, down 10.6 percent from April 2001, and domestic capacity was 4.1 billion ASMs, down 11.0 percent from last year.
Lower year-over-year yields and lower load factors resulted in a decrease in estimated systemwide passenger revenue per available seat mile (RASM) of between 10 and 12 percent for April 2002, as compared to April 2001. For March 2002, RASM declined 6.4 percent as compared to March 2001.
Continental Express flights, operated for Continental Airlines by its subsidiary ExpressJet Airlines under a capacity purchase arrangement, reported a load factor of 62.6 percent for April 2002, 1.6 points below last year's April load factor. Continental Express flew 313.4 million RPMs and 500.3 million ASMs in April 2002, resulting in a traffic increase of 6.7 percent and a capacity increase of 9.3 percent versus April 2001. Under the capacity purchase arrangement with ExpressJet Airlines, Continental payments to ExpressJet Airlines are generally not affected by variations in RPMs and load factors generated by Continental Express flights.
APRIL 2002 OPERATIONAL PERFORMANCE /PAGE 2
PRELIMINARY TRAFFIC RESULTS
APRIL |
2002 |
2001 |
Change |
||
REVENUE PASSENGER MILES (000) |
|||||
Domestic |
3,069,905 |
3,434,468 |
(10.6) Percent |
||
International |
1,802,810 |
2,084,345 |
(13.5) Percent |
||
Transatlantic |
790,047 |
959,453 |
(17.7) Percent |
||
Latin America |
618,033 |
681,446 |
(9.3) Percent |
||
Pacific |
394,730 |
443,446 |
(11.0) Percent |
||
Total Jet |
4,872,715 |
5,518,813 |
(11.7) Percent |
||
ExpressJet |
313,417 |
293,719 |
6.7 Percent |
||
AVAILABLE SEAT MILES (000) |
|||||
Domestic |
4,113,429 |
4,620,040 |
(11.0) Percent |
||
International |
2,520,596 |
2,832,729 |
(11.0) Percent |
||
Transatlantic |
1,061,366 |
1,201,228 |
(11.6) Percent |
||
Latin America |
892,497 |
941,397 |
(5.2) Percent |
||
Pacific |
566,733 |
690,104 |
(17.9) Percent |
||
Total Jet |
6,634,025 |
7,452,769 |
(11.0) Percent |
||
ExpressJet |
500,345 |
457,592 |
9.3 Percent |
||
PASSENGER LOAD FACTOR |
|||||
Domestic |
74.6 Percent |
74.3 Percent |
0.3 Points |
||
International |
71.5 Percent |
73.6 Percent |
(2.1) Points |
||
Transatlantic |
74.4 Percent |
79.9 Percent |
(5.5) Points |
||
Latin America |
69.2 Percent |
72.4 Percent |
(3.2) Points |
||
Pacific |
69.7 Percent |
64.3 Percent |
5.4 Points |
||
Total Jet |
73.5 Percent |
74.1 Percent |
(0.6) Points |
||
ExpressJet |
62.6 Percent |
64.2 Percent |
(1.6) Points |
||
CARGO REVENUE TON MILES (000) |
|||||
Total |
72,379 |
80,868 |
(10.5) Percent |
-more-
APRIL 2002 OPERATIONAL PERFORMANCE/PAGE 3
YEAR-TO-DATE |
2002 |
2001 |
Change |
||
REVENUE PASSENGER MILES (000) |
|||||
Domestic |
11,663,478 |
12,764,588 |
(8.6) Percent |
||
International |
7,241,657 |
7,868,006 |
(8.0) Percent |
||
Transatlantic |
2,907,580 |
3,291,074 |
(11.7) Percent |
||
Latin America |
2,669,656 |
2,764,217 |
(3.4) Percent |
||
Pacific |
1,664,421 |
1,812,715 |
(8.2) Percent |
||
Total Jet |
18,905,135 |
20,632,594 |
(8.4) Percent |
||
ExpressJet |
1,148,324 |
1,027,092 |
11.8 Percent |
||
AVAILABLE SEAT MILES (000) |
|||||
Domestic |
15,982,147 |
18,022,123 |
(11.3) Percent |
||
International |
9,603,305 |
10,889,071 |
(11.8) Percent |
||
Transatlantic |
3,866,860 |
4,567,993 |
(15.3) Percent |
||
Latin America |
3,550,459 |
3,806,091 |
(6.7) Percent |
||
Pacific |
2,185,986 |
2,514,987 |
(13.1) Percent |
||
Total Jet |
25,585,452 |
28,911,194 |
(11.5) Percent |
||
ExpressJet |
1,924,120 |
1,746,660 |
10.2 Percent |
||
PASSENGER LOAD FACTOR |
|||||
Domestic |
73.0 Percent |
70.8 Percent |
2.2 Points |
||
International |
75.4 Percent |
72.3 Percent |
3.1 Points |
||
Transatlantic |
75.2 Percent |
72.0 Percent |
3.2 Points |
||
Latin America |
75.2 Percent |
72.6 Percent |
2.6 Points |
||
Pacific |
76.1 Percent |
72.1 Percent |
4.0 Points |
||
Total Jet |
73.9 Percent |
71.4 Percent |
2.5 Points |
||
ExpressJet |
59.7 Percent |
58.8 Percent |
0.9 Points |
||
CARGO REVENUE TON MILES (000) |
|||||
Total |
280,563 |
333,710 |
(15.9) Percent |
-more-
APRIL 2002 OPERATIONAL PERFORMANCE/PAGE 4
PRELIMINARY OPERATIONAL RESULTS
APRIL |
2002 |
2001 |
Change |
|||
On-Time Performance* |
87.9% |
85.7% |
2.2 Points |
|||
Completion Factor** |
99.9% |
99.5% |
0.4 Points |
|||
YEAR-TO-DATE |
2002 |
2001 |
Change |
|||
On-Time Performance* |
85.8% |
81.1% |
4.7 Points |
|||
Completion Factor** |
99.9% |
98.9% |
1.0 Points |
|||
PRELIMINARY RASM CHANGE AND FUEL PRICE |
||||||
April 2002 estimated year-over-year RASM Change |
(10-12) Percent |
|||||
April 2002 estimated average price per gallon of fuel,excluding fuel taxes |
67 Cents |
|||||
* Department of Transportation Arrivals within 14 minutes
** System Mileage Completion Percentage
###