Continental Airlines reports August 2002 Performance

Continental Airlines (NYSE: CAL) yesterday reported an August 2002 systemwide mainline jet load factor of 79.1 percent, 1.0 point above last year's August load factor. For August 2002, Continental reported a record August domestic mainline jet load factor of 78.6 percent and an international mainline jet load factor of 79.8 percent.

Continental reported an on-time arrival rate of 83.3 percent and a completion factor of 99.9 percent for its mainline jet operations in August 2002.

In August 2002, Continental flew 5.8 billion mainline jet revenue passenger miles (RPMs) and 7.3 billion mainline jet available seat miles (ASMs) systemwide, resulting in a traffic decrease of 9.5 percent and a capacity decrease of 10.6 percent as compared to August 2001. Domestic mainline jet traffic was 3.4 billion RPMs in August 2002, down 13.0 percent from August 2001, and August 2002 domestic mainline jet capacity was 4.4 billion ASMs, down 14.5 percent from August last year.

Systemwide August 2002 mainline jet passenger revenue per available seat mile (RASM) is estimated to have decreased between 2 and 4 percent compared to August 2001 as a result of lower year-over-year yields, slightly offset by higher load factors. For July 2002, RASM declined 4.0 percent as compared to July 2001.

Consolidated breakeven load factor for September 2002 is estimated to be 87 percent, 9 points higher than August 2002 due to September seasonality. Actual 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 a record August load factor of 66.4 percent for August 2002, 0.4 points above last year's August load factor. ExpressJet flew 366.6 million RPMs and 551.9 million ASMs in August 2002, resulting in a traffic increase of 6.7 percent and a capacity increase of 6.1 percent versus August 2001.