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Continental Airlines Reports October 2008 Performance

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Continental Airlines has reported an October 2008 consolidated (mainline plus regional) load factor of 79%, 0.5 points below the October 2007 consolidated load factor, and a mainline load factor of 79.5%, 0.3 points below the October 2007 mainline load factor. In addition, the carrier reported a domestic mainline October load factor of 83%, 0.5 points above the October 2007 domestic mainline load factor, and an international mainline load factor of 75.9%, 0.8 points below October 2007.

During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 81.4% and a mainline segment completion factor of 99.7%. 

In October 2008, Continental flew 7.1 billion consolidated revenue passenger miles (RPMs) and 9 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic decrease of 7.3% and a capacity decrease of 6.7% as compared to October 2007. In October 2008, Continental flew 6.4 billion mainline RPMs and 8 billion mainline ASMs, resulting in a mainline traffic decrease of 7.6% and a mainline capacity decrease of 7.3% as compared to October 2007. Domestic mainline traffic was 3.4 billion RPMs in October 2008, down 10.2% from October 2007, and domestic mainline capacity was 4.1 billion ASMs, down 10.8% from October 2007.

For October 2008, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 9 and 10% compared to October 2007, while mainline passenger RASM is estimated to have increased between 10 and 11% compared to October 2007. Mainline domestic RASM for October 2008 is estimated to have increased between 10 and 11% year over year. Mainline domestic RASM for November 2008 is expected to be up 4 to 6% year over year, as close in yields are expected to come in lower than earlier anticipated as a result of the weakened economy.

For September 2008, consolidated passenger RASM increased 12.4% compared to September 2007, while mainline passenger RASM increased 14.1% compared to September 2007. 

Continental’s regional operations had an October load factor of 74.9%, 2 points below the October 2007 regional load factor. Regional RPMs were 785.2 million and regional ASMs were 1,048.3 million in October 2008, resulting in a traffic decrease of 4.4% and a capacity decrease of 1.8% versus October 2007.

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