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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): March 1, 2007 |
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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 |
74-2099724 |
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(Commission File Number) |
(IRS Employer Identification No.) |
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1600 Smith Street, Dept. HQSEO, Houston, Texas |
77002 |
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(Address of Principal Executive Offices) |
(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) |
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. Other Events.
On March 1, 2007, we issued a press release announcing our February 2007 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
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99.1 |
Press Release for February Performance |
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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.
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CONTINENTAL AIRLINES, INC. |
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March 1, 2007 |
By /s/ Lori A. Gobillot Lori A. Gobillot Staff Vice President and Assistant General Counsel
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EXHIBIT INDEX |
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99.1 |
Press Release for February Performance |
EXHIBIT 99.1
News Release
Contact:
Corporate CommunicationsHouston: 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 FEBRUARY 2007
OPERATIONAL PERFORMANCE
HOUSTON, March 1, 2007 - Continental Airlines (NYSE: CAL) today reported a February consolidated (mainline plus regional) load factor of 77.0 percent, 1.0 point above the February 2006 consolidated load factor, and a mainline load factor of 77.1 percent, 1.0 point above the February 2006 mainline load factor. Both load factors were records for the month. In addition, the carrier reported a domestic mainline load factor of 80.7 percent, 0.3 points below February 2006, and an international mainline load factor of 73.2 percent, 2.7 points above February 2006.
During the month, Continental recorded a U.S. Department of Transportation on-time arrival rate of 73.7 percent and a February mainline completion factor of 99.4 percent.
In February 2007, Continental flew 6.5 billion consolidated revenue passenger miles (RPMs) and 8.4 billion consolidated available seat miles (ASMs), resulting in a traffic increase of 7.6 percent and a capacity increase of 6.2 percent as compared to February 2006. In February 2007, Continental flew 5.8 billion mainline RPMs and 7.5 billion mainline ASMs, resulting in a mainline traffic increase of 8.1 percent and a 6.6 percent increase in mainline capacity as compared to February 2006. Domestic mainline traffic was 3.2 billion RPMs in February 2007, up 5.8 percent from February 2006, and domestic mainline capacity was 4.0 billion ASMs, up 6.2 percent from February 2006.
For February 2007, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 1.5 percent and 2.5 percent compared to February 2006, while mainline passenger RASM is estimated to have increased between 3.0 and 4.0 percent compared to February 2006. For January 2007, consolidated passenger RASM increased 2.7 percent compared to January 2006, while mainline passenger RASM increased 4.4 percent from January 2006.
February 2007 sales at continental.com increased 20 percent over February 2006.
Continental's regional operations had a record February load factor of 75.5 percent, 0.5 points above the February 2006 load factor. Regional RPMs were 721.6 million and regional ASMs were 955.2 million in February 2007, resulting in a traffic increase of 4.0 percent and a capacity increase of 3.3 percent versus February 2006.
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 150 domestic and 136 international destinations. More than 400 additional points are served via SkyTeam alliance airlines. With more than 44,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with Continental Express, carries approximately 67 million passengers per year. Continental consistently earns awards and critical acclaim for both its operation and its corporate culture.
In 2006, Continental Airlines won its sixth J.D. Power and Associates award since 1996. The carrier received the highest rank in customer satisfaction among network carriers in North America in the J.D. Power and Associates 2006 Airline Satisfaction Index SurveySM. For the third consecutive year, FORTUNE magazine named Continental the No. 1 Most Admired Global Airline on its 2006 list of Most Admired Global Companies. Continental was also named the No. 1 airline on the publication's 2006 America's Most Admired airline industry list. Additionally, Continental again won major awards at the OAG Airline of the Year Awards including "Best Airline Based in North America" for the third year in a row, and "Best Executive/Business Class" for the fourth consecutive year. 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 2006 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the consequences of the company's significant financial losses and high leverage, the significant cost of aircraft fuel, its high labor and pension costs, service interruptions at one of its hub airports, 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 availab ility 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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FEBRUARY |
2007 |
2006 |
Change |
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REVENUE PASSENGER MILES (000) |
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Domestic |
3,194,291 |
3,019,661 |
5.8 |
Percent |
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International |
2,561,592 |
2,305,985 |
11.1 |
Percent |
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Transatlantic |
1,140,743 |
991,344 |
15.1 |
Percent |
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Latin America |
877,064 |
800,800 |
9.5 |
Percent |
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Pacific |
543,785 |
513,841 |
5.8 |
Percent |
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Mainline |
5,755,883 |
5,325,646 |
8.1 |
Percent |
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Regional |
721,605 |
693,857 |
4.0 |
Percent |
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Consolidated |
6,477,488 |
6,019,503 |
7.6 |
Percent |
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AVAILABLE SEAT MILES (000) |
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Domestic |
3,959,221 |
3,728,250 |
6.2 |
Percent |
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International |
3,501,421 |
3,272,283 |
7.0 |
Percent |
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Transatlantic |
1,633,576 |
1,464,979 |
11.5 |
Percent |
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Latin America |
1,122,688 |
1,064,388 |
5.5 |
Percent |
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Pacific |
745,157 |
742,916 |
0.3 |
Percent |
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Mainline |
7,460,642 |
7,000,533 |
6.6 |
Percent |
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Regional |
955,222 |
924,884 |
3.3 |
Percent |
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Consolidated |
8,415,864 |
7,925,417 |
6.2 |
Percent |
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PASSENGER LOAD FACTOR |
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Domestic |
80.7 Percent |
81.0 Percent |
-0.3 |
Points |
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International |
73.2 Percent |
70.5 Percent |
2.7 |
Points |
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Transatlantic |
69.8 Percent |
67.7 Percent |
2.1 |
Points |
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Latin America |
78.1 Percent |
75.2 Percent |
2.9 |
Points |
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Pacific |
73.0 Percent |
69.2 Percent |
3.8 |
Points |
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Mainline |
77.1 Percent |
76.1 Percent |
1.0 |
Point |
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Regional |
75.5 Percent |
75.0 Percent |
0.5 |
Points |
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Consolidated |
77.0 Percent |
76.0 Percent |
1.0 |
Point |
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ONBOARD PASSENGERS |
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Mainline |
3,649,358 |
3,456,431 |
5.6 |
Percent |
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Regional |
1,304,077 |
1,230,971 |
5.9 |
Percent |
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Consolidated |
4,953,435 |
4,687,402 |
5.7 |
Percent |
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CARGO REVENUE TON MILES (000) |
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Total |
81,073 |
83,798 |
-3.3 |
Percent |
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PRELIMINARY TRAFFIC RESULTS |
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YEAR-TO-DATE |
2007 |
2006 |
Change |
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REVENUE PASSENGER MILES (000) |
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Domestic |
6,551,855 |
6,223,330 |
5.3 |
Percent |
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International |
5,463,647 |
4,996,051 |
9.4 |
Percent |
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Transatlantic |
2,445,082 |
2,154,097 |
13.5 |
Percent |
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Latin America |
1,856,556 |
1,706,821 |
8.8 |
Percent |
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Pacific |
1,162,009 |
1,135,133 |
2.4 |
Percent |
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Mainline |
12,015,502 |
11,219,381 |
7.1 |
Percent |
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Regional |
1,481,244 |
1,426,892 |
3.8 |
Percent |
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Consolidated |
13,496,746 |
12,646,273 |
6.7 |
Percent |
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AVAILABLE SEAT MILES (000) |
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Domestic |
8,258,177 |
7,819,302 |
5.6 |
Percent |
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International |
7,353,445 |
6,898,968 |
6.6 |
Percent |
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Transatlantic |
3,425,590 |
3,075,610 |
11.4 |
Percent |
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Latin America |
2,348,122 |
2,244,177 |
4.6 |
Percent |
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Pacific |
1,579,733 |
1,579,181 |
0.0 |
Percent |
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Mainline |
15,611,622 |
14,718,270 |
6.1 |
Percent |
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Regional |
2,005,622 |
1,932,605 |
3.8 |
Percent |
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Consolidated |
17,617,244 |
16,650,875 |
5.8 |
Percent |
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PASSENGER LOAD FACTOR |
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Domestic |
79.3 Percent |
79.6 Percent |
-0.3 |
Points |
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International |
74.3 Percent |
72.4 Percent |
1.9 |
Points |
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Transatlantic |
71.4 Percent |
70.0 Percent |
1.4 |
Points |
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Latin America |
79.1 Percent |
76.1 Percent |
3.0 |
Points |
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Pacific |
73.6 Percent |
71.9 Percent |
1.7 |
Points |
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Mainline |
77.0 Percent |
76.2 Percent |
0.8 |
Points |
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Regional |
73.9 Percent |
73.8 Percent |
0.1 |
Points |
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Consolidated |
76.6 Percent |
75.9 Percent |
0.7 |
Points |
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ONBOARD PASSENGERS |
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Mainline |
7,506,463 |
7,164,530 |
4.8 |
Percent |
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Regional |
2,658,615 |
2,528,504 |
5.1 |
Percent |
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Consolidated |
10,165,078 |
9,693,034 |
4.9 |
Percent |
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CARGO REVENUE TON MILES (000) |
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Total |
161,124 |
164,118 |
-1.8 |
Percent |
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PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS |
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FEBRUARY |
2007 |
2006 |
Change |
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On-Time Performance 1 |
73.7% |
71.0% |
2.7 |
Points |
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Completion Factor 2 |
99.4% |
98.4% |
1.0 |
Point |
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January 2007 year-over-year consolidated RASM change |
2.7 |
Percent |
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January 2007 year-over-year mainline RASM change |
4.4 |
Percent |
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February 2007 estimated year-over-year consolidated RASM change |
1.5-2.5 |
Percent |
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February 2007 estimated year-over-year mainline RASM change |
3.0-4.0 |
Percent |
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February 2007 estimated average price per gallon of fuel, including fuel taxes |
1.85 |
Dollars |
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First Quarter 2007 estimated average price per gallon of fuel, including fuel taxes |
1.92 |
Dollars |
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1 Department of Transportation Arrivals within 14 minutes |
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2 Mainline Mileage Completion Percentage |
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