Continental Airlines reports October 2002 performance

Continental Airlines (NYSE: CAL) today reported an October 2002 systemwide mainline jet load factor of 69.4 percent, 3.2 points above last year's October load factor. For October 2002, Continental reported an October domestic mainline jet load factor of 70.1 percent and an international mainline jet load factor of 68.3 percent. Due to the events of Sept. 11 last year, comparisons of 2002 versus 2001 do not provide a good historical benchmark. In order to provide a more meaningful comparison, the attached traffic results chart also includes a comparison of October 2002 with October 2000.

Continental reported an on-time arrival rate of 78.4 percent and a completion factor of 99.5 percent for its mainline jet operations in October 2002. Inclement weather affected Continental's system 22 days in October, significantly lowering the airline's on-time performance for that month.

In October 2002, Continental flew 4.7 billion mainline jet revenue passenger miles (RPMs) and 6.8 billion mainline jet available seat miles (ASMs) systemwide, resulting in a traffic increase of 16.7 percent and a capacity increase of 11.3 percent as compared to October 2001. Domestic mainline jet traffic was 2.9 billion RPMs in October 2002, up 6.3 percent from October 2001, and October 2002 domestic mainline jet capacity was 4.1 billion ASMs, up 9.4 percent from October 2001.

Systemwide October 2002 mainline jet passenger revenue per available seat mile (RASM) is estimated to have increased between 8 and 10 percent compared to October 2001 and decreased between 15 and 17 percent compared to October 2000. For September 2002, RASM increased 10.8 percent as compared to September 2001 and declined 17.6 percent as compared to September 2000.
Consolidated breakeven load factor for November 2002 is estimated to be 83 percent. Consolidated breakeven load factor for October 2002 is estimated to have been 80 percent. Actual November consolidated breakeven load factor may vary significantly from this estimate depending on actual passenger revenue yields, fuel price and other factors.

ExpressJet Airlines, a subsidiary of Continental Airlines doing business as Continental Express, separately reported an October load factor of 63.3 percent for October 2002, 0.6 points above last year's October load factor. ExpressJet flew 347.5 million RPMs and 548.6 million ASMs in October 2002, resulting in a traffic increase of 21.2 percent and a capacity increase of 20.0 percent versus October 2001.