f120108form8k.htm


UNITED STATES
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, 2008

CONTINENTAL AIRLINES, INC.
(Exact Name of Registrant as Specified in Its Charter)

DELAWARE
(State or Other Jurisdiction of Incorporation)

1-10323
74-2099724
(Commission File Number)
(IRS Employer 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)

______________________________________
(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):

 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
 
(17 CFR 240.14d-2(b))

 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
 
(17 CFR 240.13e-4(c))


 
 

 


Item 8.01.
Other Events.

On December 1, 2008, we issued a press release announcing our November 2008 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

 
99.1
Press Release for November Performance



 
 

 


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, 2008
By /s/ Lori A. Gobillot                      
   
Lori A. Gobillot
   
Staff Vice President and Assistant General
   
Counsel








 
 

 


EXHIBIT INDEX

99.1
Press Release for November Performance





f120108form8kexh991.htm



News Release
Exhibit 99.1
     
Contact:
Corporate Communications
 
Houston:
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 NOVEMBER 2008
OPERATIONAL PERFORMANCE
HOUSTON, Dec. 1, 2008 – Continental Airlines (NYSE: CAL) today reported a November consolidated (mainline plus regional) load factor of 77.3 percent, 2.8 points below the November 2007 consolidated load factor, and a mainline load factor of 77.8 percent, 2.6 points below the November 2007 mainline load factor.  In addition, the carrier reported a domestic mainline November load factor of 80.6 percent, 2.5 points below the November 2007 domestic mainline load factor, and an international mainline load factor of 75.0 percent, 2.4 points below November 2007.
During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 80.8 percent and a mainline segment completion factor of 99.9 percent.
In November 2008, Continental flew 6.6 billion consolidated revenue passenger miles (RPMs) and 8.5 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic decrease of 10.5 percent and a capacity decrease of 7.3 percent as compared to November 2007. In November 2008, Continental flew 5.9 billion mainline RPMs and 7.5 billion mainline ASMs, resulting in a mainline traffic decrease of 10.7 percent and a mainline capacity decrease of 7.8 percent as compared to November 2007. Domestic mainline traffic was 3.1 billion RPMs in November 2008, down 15.0 percent from November 2007, and domestic mainline capacity was 3.8 billion ASMs, down 12.4 percent from November 2007.
For November 2008, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 1.0 and 2.0 percent compared to November 2007, while mainline passenger RASM is estimated to have increased between 2.0 and 3.0 percent compared to November 2007. Mainline domestic RASM for November 2008 is estimated to be between flat and up 1.0 percent compared to November 2007.
For October 2008, consolidated passenger RASM increased 9.5 percent compared to October 2007, while mainline passenger RASM increased 10.4 percent compared to October 2007.
Continental’s regional operations had a November load factor of 73.1 percent, 4.6 points below the November 2007 regional load factor.  Regional RPMs were 715.0 million and regional ASMs were 977.5 million in November 2008, resulting in a traffic decrease of 8.9 percent and a capacity decrease of 3.2 percent versus November 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.

 
 

 


PRELIMINARY TRAFFIC RESULTS
 
NOVEMBER
2008
2007
Change
 
REVENUE PASSENGER MILES (000)
     
 
Domestic
3,079,293
3,622,394
-15.0
Percent
           
 
International
2,784,408
2,944,508
-5.4
Percent
 
Transatlantic
1,465,741
1,518,980
-3.5
Percent
 
Latin America
801,485
821,060
-2.4
Percent
 
Pacific
517,182
604,468
-14.4
Percent
           
 
Mainline
5,863,701
6,566,902
-10.7
Percent
 
Regional
715,003
785,014
-8.9
Percent
 
Consolidated
6,578,704
7,351,916
-10.5
Percent
AVAILABLE SEAT MILES (000)
       
 
Domestic
3,820,013
4,361,285
-12.4
Percent
           
 
International
3,712,195
3,805,619
-2.5
Percent
 
Transatlantic
1,986,001
1,975,055
0.6
Percent
 
Latin America
1,016,962
1,028,432
-1.1
Percent
 
Pacific
709,232
802,132
-11.6
Percent
           
 
Mainline
7,532,208
8,166,904
-7.8
Percent
 
Regional
977,543
1,009,989
-3.2
Percent
 
Consolidated
8,509,751
9,176,893
-7.3
Percent
PASSENGER LOAD FACTOR
       
 
Domestic
 80.6 Percent
 83.1 Percent
-2.5
Points
           
 
International
 75.0 Percent
 77.4 Percent
-2.4
Points
 
Transatlantic
 73.8 Percent
 76.9 Percent
-3.1
Points
 
Latin America
 78.8 Percent
 79.8 Percent
-1.0
Points
 
Pacific
 72.9 Percent
 75.4 Percent
-2.5
Points
           
 
Mainline
 77.8 Percent
 80.4 Percent
-2.6
Points
 
Regional
 73.1 Percent
 77.7 Percent
-4.6
Points
 
Consolidated
 77.3 Percent
 80.1 Percent
-2.8
Points
ONBOARD PASSENGERS
       
 
Mainline
3,487,165
4,049,359
-13.9
Percent
 
Regional
1,325,422
1,453,089
-8.8
Percent
 
Consolidated
4,812,587
5,502,448
-12.5
Percent
CARGO REVENUE TON MILES (000)
     
 
Total
79,033
93,078
-15.1
Percent

 
 

 


PRELIMINARY TRAFFIC RESULTS
YEAR-TO-DATE
2008
2007
Change
REVENUE PASSENGER MILES (000)
       
 
Domestic
39,504,455
41,663,896
-5.2
Percent
 
             
 
International
36,967,642
35,815,311
3.2
Percent
 
 
Transatlantic
19,814,324
18,593,410
6.6
Percent
 
 
Latin America
10,652,411
10,198,420
4.5
Percent
 
 
Pacific
6,500,907
7,023,481
-7.4
Percent
 
             
 
Mainline
76,472,097
77,479,207
-1.3
Percent
 
 
Regional
9,103,936
9,063,304
0.4
Percent
 
 
Consolidated
85,576,033
86,542,511
-1.1
Percent
 
AVAILABLE SEAT MILES (000)
         
 
Domestic
47,447,743
49,553,311
-4.2
Percent
 
             
 
International
47,198,249
44,922,409
5.1
Percent
 
 
Transatlantic
25,674,637
23,328,808
10.1
Percent
 
 
Latin America
12,991,056
12,602,633
3.1
Percent
 
 
Pacific
8,532,556
8,990,968
-5.1
Percent
 
             
 
Mainline
94,645,992
94,475,720
0.2
Percent
 
 
Regional
11,963,468
11,573,141
3.4
Percent
 
 
Consolidated
106,609,460
106,048,861
0.5
Percent
 
PASSENGER LOAD FACTOR
         
 
Domestic
83.3 Percent
84.1 Percent
-0.8
Points
 
             
 
International
78.3 Percent
79.7 Percent
-1.4
Points
 
 
Transatlantic
77.2 Percent
79.7 Percent
-2.5
Points
 
 
Latin America
82.0 Percent
80.9 Percent
1.1
Points
 
 
Pacific
76.2 Percent
78.1 Percent
-1.9
Points
 
             
 
Mainline
80.8 Percent
82.0 Percent
-1.2
Points
 
 
Regional
76.1 Percent
78.3 Percent
-2.2
Points
 
 
Consolidated
80.3 Percent
81.6 Percent
-1.3
Points
 
ONBOARD PASSENGERS
         
 
Mainline
44,894,665
46,814,584
-4.1
Percent
 
 
Regional
16,597,677
16,538,162
0.4
Percent
 
 
Consolidated
61,492,342
63,352,746
-2.9
Percent
 
CARGO REVENUE TON MILES (000)
       
 
Total
934,676
945,384
-1.1
Percent
 


 
 

 


PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS
NOVEMBER
2008
2007
Change
On-Time Performance 1
80.8%
78.0%
         2.8
Points
Completion Factor 2
99.9%
99.8%
         0.1
Points
October 2008 year-over-year consolidated RASM change
         9.5
Percent
October 2008 year-over-year mainline RASM change
       10.4
Percent
November 2008 estimated year-over-year consolidated RASM change
 1.0 - 2.0
Percent
November 2008 estimated year-over-year mainline RASM change
 2.0 - 3.0
Percent
November 2008 estimated average price per gallon of fuel, including fuel taxes
2.77
Dollars
Fourth Quarter 2008 estimated average price per gallon of fuel, including fuel taxes
3.03
Dollars
             
1 Department of Transportation Arrivals within 14 minutes
   
2 Mainline Segment Completion Percentage