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Continental Airlines reports September 2002 performance

Continental Airlines<.> reported a September 2002 systemwide mainline jet load factor of 67.9 percent

Continental Airlines<.> reported a September 2002 systemwide mainline jet load factor of 67.9 percent, 6.5 points above last year’s September load factor. For September 2002, Continental reported a September domestic mainline jet load factor of 66.2 percent and an international mainline jet load factor of 70.5 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 preliminary traffic results chart includes a comparison of September 2002 with September 2000 as well.



Continental reported an on-time arrival rate of 86.2 percent and a completion factor of 99.7 percent for its mainline jet operations in September 2002.



In September 2002, Continental flew 4.5 billion mainline jet revenue passenger miles (RPMs) and 6.6 billion mainline jet available seat miles (ASMs) systemwide, resulting in a traffic increase of 23.7 percent and a capacity increase of 11.8 percent as compared to September 2001. Domestic mainline jet traffic was 2.6 billion RPMs in September 2002, up 24.1 percent from September 2001, and September 2002 domestic mainline jet capacity was 3.9 billion ASMs, up 13.0 percent from September last year.



Systemwide September 2002 mainline jet passenger revenue per available seat mile (RASM) is estimated to have increased between 9 and 11 percent compared to September 2001 and decreased between 17 and 19 percent compared to September 2000. For August 2002, RASM declined 2.7 percent as compared to August 2001 and declined 15.2 percent as compared to August 2000. The decline from August to September relative to 2000 is due to weak demand surrounding Sept. 11 of this year. The attached RASM table shows Continental’s change in RASM for May through September as compared to the same periods in 2001 and 2000.



Consolidated breakeven load factor for October 2002 is estimated to be 79 percent. Consolidated breakeven load factor for September 2002 is estimated to have been 81 percent. Actual October consolidated breakeven load factor may vary significantly from this estimate depending on actual passenger revenue yields, fuel price and other factors. Month-to-date consolidated load factor information can be found on Continental’s website at continental.com in the Investor Relations-Financial/Traffic Releases section.



ExpressJet Airlines, a subsidiary of Continental Airlines doing business as Continental Express, separately reported a record September load factor of 60.5 percent for September 2002, 8.5 points above last year’s September load factor. ExpressJet flew 307.8 million RPMs and 508.4 million ASMs in September 2002, resulting in a traffic increase of 57.8 percent and a capacity increase of 35.6 percent versus September 2001.

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