|
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): |
|
December 1, 2003 |
|
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 December 1, 2003, we issued a press release announcing our November performance and our estimated consolidated breakeven load factor for December. The press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
- Exhibits
- Press Release
|
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. |
|
December 1, 2003 |
By /s/ Jennifer L. Vogel |
|
Jennifer L. Vogel |
|
|
Senior Vice President, General Counsel and Secretary |
|
EXHIBIT INDEX |
|
99.1 |
Press Release |
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
OPERATIONAL PERFORMANCE FOR NOVEMBER 2003
HOUSTON, Dec. 1, 2003 - Continental Airlines (NYSE: CAL) 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. RegionalRPMs 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 percentversus November 2002.
CONTINENTAL AIRLINES REPORTS OPERATIONAL PERFORMANCE
FOR NOVEMBER 2003/Page 3
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 rel ease.
CONTINENTAL AIRLINES REPORTS OPERATIONAL PERFORMANCE
FOR NOVEMBER 2003/Page 3
PRELIMINARY TRAFFIC RESULTS
|
NOVEMBER |
2003 |
2002 |
Change |
||
|
REVENUE PASSENGER MILES (000) |
|||||
|
Domestic |
2,911,748 |
2,729,366 |
6.7 Percent |
||
|
International |
1,834,240 |
1,638,384 |
12.0 Percent |
||
|
Transatlantic |
839,037 |
713,564 |
17.6 Percent |
||
|
Latin America |
567,537 |
549,545 |
3.3 Percent |
||
|
Pacific |
427,666 |
375,275 |
14.0 Percent |
||
|
Mainline |
4,745,988 |
4,367,750 |
8.7 Percent |
||
|
Regional |
523,581 |
345,180 |
51.7 Percent |
||
|
AVAILABLE SEAT MILES (000) |
|||||
|
Domestic |
3,897,664 |
3,887,299 |
0.3 Percent |
||
|
International |
2,405,252 |
2,372,670 |
1.4 Percent |
||
|
Transatlantic |
1,058,339 |
977,919 |
8.2 Percent |
||
|
Latin America |
788,703 |
817,567 |
(3.5) Percent |
||
|
Pacific |
558,210 |
577,185 |
(3.3) Percent |
||
|
Mainline |
6,302,916 |
6,259,969 |
0.7 Percent |
||
|
Regional |
745,618 |
546,736 |
36.4 Percent |
||
|
PASSENGER LOAD FACTOR |
|||||
|
Domestic |
74.7 Percent |
70.2 Percent |
4.5 Points |
||
|
International |
76.3 Percent |
69.1 Percent |
7.2 Points |
||
|
Transatlantic |
79.3 Percent |
73.0 Percent |
6.3 Points |
||
|
Latin America |
72.0 Percent |
67.2 Percent |
4.8 Points |
||
|
Pacific |
76.6 Percent |
65.0 Percent |
11.6 Points |
||
|
Mainline |
75.3 Percent |
69.8 Percent |
5.5 Points |
||
|
Regional |
70.2 Percent |
63.1 Percent |
7.1 Points |
||
|
CARGO REVENUE TON MILES (000) |
|||||
Total |
78,219 |
82,887 |
(5.6) Percent |
||
(more)
CONTINENTAL AIRLINES REPORTS OPERATIONAL PERFORMANCE
FOR NOVEMBER 2003/Page 4
|
YEAR-TO-DATE |
2003 |
2002 |
Change |
||
|
REVENUE PASSENGER MILES (000) |
|||||
|
Domestic |
33,044,331 |
33,065,200 |
(0.1) Percent |
||
|
International |
20,939,481 |
21,454,071 |
(2.4) Percent |
||
|
Transatlantic |
9,712,792 |
9,731,025 |
(0.2) Percent |
||
|
Latin America |
6,945,671 |
6,837,799 |
1.6 Percent |
||
|
Pacific |
4,281,018 |
4,885,247 |
(12.4) Percent |
||
|
Mainline |
53,983,812 |
54,519,271 |
(1.0) Percent |
||
|
Regional |
5,214,041 |
3,567,616 |
46.1 Percent |
||
|
AVAILABLE SEAT MILES (000) |
|||||
|
Domestic |
43,340,678 |
44,893,518 |
(3.5) Percent |
||
|
International |
28,314,734 |
28,704,166 |
(1.4) Percent |
||
|
Transatlantic |
12,661,840 |
12,500,825 |
1.3 Percent |
||
|
Latin America |
9,465,232 |
9,610,647 |
(1.5) Percent |
||
|
Pacific |
6,187,662 |
6,592,694 |
(6.1) Percent |
||
|
Mainline |
71,655,412 |
73,597,684 |
(2.6) Percent |
||
|
Regional |
7,638,613 |
5,650,390 |
35.2 Percent |
||
|
PASSENGER LOAD FACTOR |
|||||
|
Domestic |
76.2 Percent |
73.7 Percent |
2.5 Points |
||
|
International |
74.0 Percent |
74.7 Percent |
(0.7) Points |
||
|
Transatlantic |
76.7 Percent |
77.8 Percent |
(1.1) Points |
||
|
Latin America |
73.4 Percent |
71.1 Percent |
2.3 Points |
||
|
Pacific |
69.2 Percent |
74.1 Percent |
(4.9) Points |
||
|
Mainline |
75.3 Percent |
74.1 Percent |
1.2 Points |
||
|
Regional |
68.3 Percent |
63.1 Percent |
5.2 Points |
||
|
CARGO REVENUE TON MILES (000) |
|||||
Total |
841,226 |
834,500 |
0.8 Percent |
||
(more)
CONTINENTAL AIRLINES REPORTS
OPERATIONAL PERFORMANCEFOR NOVEMBER 2003/Page 5
PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS
|
NOVEMBER |
2003 |
2002 |
Change |
|||
|
On-Time Performance1 |
78.7% |
83.6% |
(4.9) Points |
|||
|
Completion Factor2 |
99.5% |
99.8% |
(0.3) Points |
|||
|
YEAR-TO-DATE |
2003 |
2002 |
Change |
|||
|
On-Time Performance1 |
82.5% |
84.1% |
(1.6) Points |
|||
|
Completion Factor2 |
99.5% |
99.8% |
(0.3) Points |
|||
|
October 2003 consolidated breakeven load factor3 |
77.1 Percent |
|||||
|
November 2003 estimated year-over-year RASM change |
4.5-5.5 Percent |
|||||
|
November 2003 estimated average price per gallon of fuel,excluding fuel taxes |
86.0 Cents |
|||||
|
November 2003 estimated consolidated breakeven load factor3,4 |
77 Percent |
|||||
|
November 2003 actual consolidated load factor5 |
74.8 Percent |
|||||
|
December 2003 estimated consolidated breakeven load factor3 |
79 Percent |
|||||
|
YEAR-OVER-YEAR RASM6 |
2002 vs. 2001 |
2002 vs. 2000 |
||||
|
May |
(6.3) Percent |
(15.1) Percent |
||||
|
June |
(5.5) Percent |
(15.5) Percent |
||||
|
July |
(4.0) Percent |
(13.5) Percent |
||||
|
August |
(2.7) Percent |
(15.2) Percent |
||||
|
September |
10.8 Percent |
(17.6) Percent |
||||
|
October |
9.3 Percent |
(15.7) Percent |
||||
|
November |
(1.7) Percent |
(18.4) Percent |
||||
|
December |
10.1 Percent |
(5.7) Percent |
||||
|
2003 vs. 2002 |
2003 vs. 2001 |
|||||
|
January |
3.5 Percent |
(11.0) Percent |
||||
|
February |
(0.4) Percent |
(11.3) Percent |
||||
|
March |
(11.7) Percent |
(17.4) Percent |
||||
|
April |
(1.0) Percent |
(11.3) Percent |
||||
|
May |
2.0 Percent |
(4.3) Percent |
||||
|
June |
0.3 Percent |
(5.2) Percent |
||||
|
July |
4.9 Percent |
0.7 Percent |
||||
|
August |
4.4 Percent |
1.5 Percent |
||||
|
September |
5.3 Percent |
16.7 Percent |
||||
|
October |
4.4 Percent |
14.1 Percent |
||||
|
November (estimated) |
4.5-5.5 Percent |
3.0-4.0 Percent |
||||
1
Department of Transportation Arrivals within 14 minutes2
System Mileage Completion Percentage3
Consolidated load factor (including Continental Airlines and Continental Express) needed to break even on a consolidated net incomebasis. Actual consolidated breakeven load factor may vary significantly from estimates depending on actual passenger revenue yields,
fuel price and other factors. Month-to-date consolidated load factor information can be found on Continental's website at
continental.com in the Investor Relations-Financial/Traffic Releases section.
4
Net gain on sale of investment in Hotwire accounts for approximately 5 percentage points in November 2003.5
Includes Continental Airlines and Continental Express6
CAL has been releasing RASM data since May 2001###