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):
February 28, 2002
CONTINENTAL AIRLINES, INC.
(Exact name of registrant as specified in its charter)
|
Delaware |
0-09781 |
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 February 28, 2002, Continental Airlines, Inc. issued a press release announcing that it would record a special charge in the first quarter of 2002 resulting from the permanent grounding and retirement of its DC-10-30 fleet. 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.
By /s/ Jennifer L. Vogel
Jennifer L. Vogel
Vice President and General Counsel
February 28, 2002
EXHIBIT INDEX
- Press Release
EXHIBIT 99.1
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 ANNOUNCES
$52 MILLION AIRCRAFT RETIREMENT CHARGE
HOUSTON, Feb. 28, 2002 -- Continental Airlines (NYSE: CAL) today announced the permanent grounding and retirement of its DC-10-30 fleet, resulting in a special charge for leased aircraft of $52 million ($83 million before taxes).
An impairment charge for owned DC-10-30s was included in a special charge recorded by the company in the fourth quarter of 2001. The DC-10-30 fleet was temporarily grounded after the events of Sept. 11, 2001, while the company evaluated its long-term fleet plan.
The company also recently finalized an agreement with Boeing to defer certain aircraft deliveries to 2003 and beyond.
Continental offers its customers the youngest jet fleet in the industry, with an average age of 5.2 years. With the retirement of the DC-10-30 fleet, Continental now flies an international widebody fleet with an average age of only 1.8 years.
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