CONTINENTAL AIRLINES REPORTS OPERATIONAL PERFORMANCE FOR THE FIRST 15 DAYS OF NOVEMBER

For the first 15 days of November 2001, Continental Airlines (NYSE: CAL) today reported a 70.0 percent domestic and 65.5 percent international load factor for a systemwide load factor of 68.4 percent. The systemwide load factor is 1.8 points below the 70.2 percent load factor reported for the comparable period in 2000.

Continental’s on-time arrival rate was 90.1 percent, and its completion factor was 99.4 percent for the first 15 days of November.

During the first 15 days of November 2001, Continental flew 2.1 billion revenue passenger miles (RPMs) and 3.0 billion available seat miles (ASMs), resulting in a traffic decrease of 18.0 percent and a capacity decrease of 15.8 percent versus the corresponding period in November 2000. Domestic traffic was 1.4 billion RPMs, down 13.6 percent from the comparable November 2000 period, and domestic capacity was 1.9 billion ASMs, down 13.4 percent from the same period last year.

A decrease in systemwide load factor and low yields resulted in a decrease in estimated systemwide passenger revenue per available seat mile (RASM) of between 21 and 23 percent for the first 15 days of November 2001, as compared to the first 15 days of November 2000. October 2001 systemwide RASM declined 23 percent, compared to October 2000.

Continental Express, a wholly owned subsidiary of Continental Airlines, reported a load factor of 60.4 percent for the first 15 days of November, 1.8 points above the comparable period last year. Continental Express flew 137.1 million RPMs and 227.0 million ASMs the first 15 days of November, resulting in a traffic increase of 7.2 percent and a capacity increase of 3.9 percent versus the same period in November 2000.

Thanksgiving Travel

Bookings for Thanksgiving travel remain strong and load factors on peak days are anticipated to be similar to last year.