Continental Airlines reports September 2008 Traffic

Continental Airlines has reported a September 2008 consolidated (mainline plus regional) load factor of 76.5%, 2.5 points below the September 2007 consolidated load factor, and a mainline load factor of 77.4%, 1.8 points below the September 2007 mainline load factor. In addition, the carrier has reported a domestic mainline September load factor of 78.5%, 2.6 points below the September 2007 domestic mainline load factor, and an international mainline load factor of 76.3%, 0.9 points below September 2007. 

During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 82.1% and a mainline segment completion factor of 94.4%. Continental’s operational performance was negatively impacted by Hurricane Ike in mid-September.

 In September 2008, Continental flew 6.5 billion consolidated revenue passenger miles (RPMs) and 8.5 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic decrease of 10.9% and a capacity decrease of 8.1% as compared to September 2007. In September 2008, Continental flew 5.8 billion mainline RPMs and 7.5 billion mainline ASMs, resulting in a mainline traffic decrease of 10.9% and a mainline capacity decrease of 8.8% as compared to September 2007. Domestic mainline traffic was 2.9 billion RPMs in September 2008, down 16.2% from September 2007, and domestic mainline capacity was 3.7 billion ASMs, down 13.4% from September 2007. 

For September 2008, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 8 and 9% compared to September 2007, while mainline passenger RASM is estimated to have increased between 9 and 10% compared to September 2007. For August 2008, consolidated passenger RASM increased 5.3% compared to August 2007, while mainline passenger RASM increased 6.1% compared to August 2007.

Continental ended the third quarter with an unrestricted cash, cash equivalents and short-term investments balance of approximately $2.76 billion. This balance excludes all student loan-related auction rate securities. Continental’s regional operations had a September load factor of 69.5%, 7 points below the September 2007 regional load factor. Regional RPMs were 665.3 million and regional ASMs were 957.7 million in September 2008, resulting in a traffic decrease of 10.6% and a capacity decrease of 1.5% versus September 2007.

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