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): |
November 12, 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 7. Financial Statements and Exhibits.
99.1 Presentation Data
Item 9. Regulation FD Disclosure.
We are furnishing herewith data being presented by certain of our executive officers on November 12, 2003 at the Smith Barney Citigroup Transportation Conference.
Beginning Wednesday afternoon, November 12, 2003, an audio webcast of their remarks and accompanying graphic presentation will be made available under the Investor Relations - Investor Presentation section of our corporate website at www.continental.com/company.
The information presented contains forward-looking statements that are not limited to historical facts, but reflect our 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 statement. For examples of such risks and uncertainties, please read the risk factors set forth in our 2002 10-K and our other securities filings, which identify important risks and uncertainties such as terrorist attacks, domestic and international economic conditions, the significant cost of aircraft fuel, labor costs, competition and industry conditions including the demand for air travel, airline pricing environment and industry capacity decisions, regulatory matters and the seasonal nature of the airline business. We undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the da te of this report.
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. |
November 12, 2003 |
By /s/ Jennifer L. Vogel |
Jennifer L. Vogel |
|
Senior Vice President, General Counsel and Secretary |
EXHIBIT INDEX |
99.1 |
Presentation Data |
Non-GAAP to GAAP Reconciliation
Third Quarter 2003 Consolidated Income / (Loss) before Income Taxes and Minority Interest
(Pre-Tax Profit/(Loss)) per Available Seat Mile (ASM):
($Millions) |
LUV |
CAL |
NWAC |
AMR |
UAL |
UAIR |
DAL |
Industry |
Pre-Tax Profit/(Loss): |
|
|
|
|
|
|
|
|
Non-GAAP to GAAP Reconciliation
Year-to-Date Third Quarter 2003 Consolidated Income / (Loss) before Income Taxes and Minority Interest (Pre-Tax Profit/(Loss)) per Available Seat Mile (ASM):
($Millions) |
LUV |
CAL |
NWAC |
UAIR |
AMR |
DAL |
UAL |
Industry |
Pre-Tax Profit/(Loss): |
|
|
|
|
|
|
|
|
Non-GAAP to GAAP Reconciliation
Third Quarter EBITDAR Margin:
Earnings before interest, taxes, depreciation, amortization and aircraft rent ("EBITDAR") divided by operating revenues
($Millions) |
CAL |
LUV |
NWAC |
AMR |
UAL |
DAL |
UAIR |
Industry |
Operating Income/(Loss) - GAAP Exclude: Depreciation & Amortization Aircraft Rent EBITDAR - Non-GAAP Special Items Excluded (Pre-Tax) EBITDAR Excluding Special Items Non-GAAP Operating Revenue EBITDAR Margin - Non-GAAP EBITDAR Margin Excluding Special Items - Non-GAAP |
$174 |
$185 |
$146 |
$165 |
$19 |
($81) |
($37) |
$571 |
Non-GAAP to GAAP Reconciliation
Year-to-Date Third Quarter EBITDAR Margin:
Earnings before interest, taxes, depreciation, amortization and aircraft rent ("EBITDAR") divided by operating revenues
($Millions) |
LUV |
CAL |
NWAC |
DAL |
UAIR |
AMR |
UAL |
Industry |
Operating Income/(Loss) - GAAP Exclude: Depreciation & Amortization Aircraft Rent EBITDAR - Non-GAAP Special Items Excluded (Pre-Tax) Security Fee Adjustment* EBITDAR Excluding Special Items Non-GAAP Operating Revenue EBITDAR Margin - Non-GAAP EBITDAR Margin Excluding Special Items - Non-GAAP |
$371 |
$188 |
($253) |
($420) |
($177) |
($617) |
($1,225) |
($2,133) |
*For comparison purposes, adjustment made to reclassify security reimbursement from non-op to operating income.
Non-GAAP to GAAP Reconciliation
Third Quarter Length of Haul Adjusted Revenue per Available Seat Mile (RASM):
Length of Haul (LOH) formula: (Revenue Passenger Miles (RPMs) / Enplanements) * 1000.
LOH Adjusted RASM formula: RASM * (Carrier's LOH / CAL's LOH) ^0.5
|
|
|
|
LOH |
|
CAL |
8.94 |
16,436 |
10,612 23,317 |
1,549 |
8.94 |
Non-GAAP to GAAP Reconciliation
CASM Holding Fuel Rate Constant to the Prior Year ("CASM HFRC") - Mainline
:Operating Cost per ASM, adjusting average fuel price per gallon for the period to equal the average fuel price per gallon for the corresponding period in the prior year). Note: All amounts are for the mainline jet segment.
($Millions) |
YTD 3Q03 |
2002 |
2001 |
Operating Expenses - GAAP |
$5,468 |
$7,640 |
$7,792 |