Continental March 2010 Performance

[Ex737Driver]

Looking good for us. Does not bode well for management claiming they can't pay. Running out of places to hide the money. $3.15B now in the bank. Huge RASM increases. UPS + $1.



http://finance.yahoo.com/news/Continental-Airlines-Reports-prnews-2135737617.html?x=0&.v=1


Continental Airlines Reports March 2010 Operational Performance





Press Release Source: Continental Airlines On Thursday April 1, 2010, 6:57 pm EDT


HOUSTON, April 1 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE:CAL - News) today reported a March consolidated (mainline plus regional) load factor of 83.1 percent, 3.7 points above the March 2009 consolidated load factor, and a mainline load factor of 83.6 percent, 3.7 points above the March 2009 mainline load factor. Both March load factors were records for the month. The carrier reported a record domestic mainline March load factor of 85.8 percent, 1.5 points above the March 2009 domestic mainline load factor, and an international mainline load factor of 81.7 percent, 5.9 points above March 2009.

During March, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 77.7 percent and a mainline segment completion factor of 99.8 percent.

In March 2010, Continental flew 7.9 billion consolidated revenue passenger miles (RPMs) and 9.5 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic increase of 5.2 percent and a capacity increase of 0.5 percent as compared to March 2009. In March 2010, Continental flew 7.0 billion mainline RPMs and 8.4 billion mainline ASMs, resulting in a mainline traffic increase of 5.5 percent and a mainline capacity increase of 0.8 percent as compared to March 2009. Domestic mainline traffic was 3.4 billion RPMs in March 2010, up 0.3 percent from March 2009, and domestic mainline capacity was 4.0 billion ASMs, down 1.4 percent from March 2009.

For March 2010, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 14.5 and 15.5 percent compared to March 2009, while mainline RASM is estimated to have increased between 13.0 and 14.0 percent. For February 2010, consolidated passenger RASM increased 7.7 percent compared to February 2009, while mainline passenger RASM increased 5.8 percent compared to February 2009.

Continental ended the first quarter 2010 with an unrestricted cash, cash equivalents and short-term investments balance of approximately $3.15 billion.

Continental's regional operations had a March load factor of 79.2 percent, 3.5 points above the March 2009 regional load factor. Regional RPMs were 838.5 million and regional ASMs were 1,058.1 million in March 2010, resulting in a traffic increase of 2.8 percent and a capacity decrease of 1.8 percent versus March 2009.

Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,500 daily departures throughout the Americas, Europe and Asia, serving 133 domestic and 135 international destinations. Continental is a member of Star Alliance, which overall offers 19,700 daily flights to 1,077 airports in 175 countries through its 26 member airlines. With more than 41,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with its regional partners, carries approximately 63 million passengers per year.

Continental consistently earns awards and critical acclaim for both its operation and its corporate culture. For nine consecutive years, FORTUNE magazine has ranked Continental as the top U.S. airline on its "World's Most Admired Companies" airline industry list. For more company information, go to continental.com.

This press release contains forward-looking statements that are not limited to historical facts, but reflect the company's current beliefs, expectations or intentions regarding future events. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. For examples of such risks and uncertainties, please see the risk factors set forth in the company's 2009 Form 10-K and its other securities filings, including any amendments thereto, which identify important matters such as the potential for significant volatility in the cost of aircraft fuel, the consequences of its high leverage and other significant capital commitments, its high labor and pension costs, delays in scheduled aircraft deliveries, service interruptions at one of its hub airports, disruptions to the operations of its regional operators, disruptions in its computer systems, and industry conditions, including continuing weakness in the U.S. and global economies, the airline pricing environment, terrorist attacks, regulatory matters, excessive taxation, industry consolidation and airline alliances, the availability and cost of insurance, public health threats and the seasonal nature of the airline business. The company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by applicable law.

PRELIMINARY TRAFFIC RESULTS​

MARCH

2010
2009​

Change​

REVENUE PASSENGER MILES (000)






Domestic

3,401,491
3,390,269
0.3​

Percent








International

3,634,196
3,277,526
10.9​

Percent

Transatlantic

1,664,863
1,565,813
6.3​

Percent

Latin America

1,190,080
1,113,772
6.9​

Percent

Pacific

779,253
597,941
30.3​

Percent








Mainline

7,035,687
6,667,795
5.5​

Percent

Regional

838,488
815,944
2.8​

Percent

Consolidated

7,874,175
7,483,739
5.2​

PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS

MARCH

2010
2009
Change​

On-Time Performance (1)

77.7%
74.2%
3.5​

Points
Completion Factor (2)

99.8%
99.0%
0.8​

Points
February 2010 year-over-year consolidated RASM change

7.7​

Percent
February 2010 year-over-year mainline RASM change

5.8​

Percent
March 2010 estimated year-over-year consolidated RASM change

14.5 - 15.5 ​

Percent
March 2010 estimated year-over-year mainline RASM change

13.0 - 14.0 ​

Percent

 

[CA1900]

The secret's in the velvet ropes...

 

[lookin4better]

It would be nice if performance like this would stop a merger.... highly unlikely though.

 

[Furloughed80]

This is great news! I honestly doubt there will ever be a merger, but that's just me.

 

[jonjuan]

huge rasm increases. Ups + $1.

lol..........

 

[100/hour/5y]

fupm!

Cal sucks!

 

[BID]

fupm!

Cal sucks!

I seriously can't wait till SWA hires you!!!

 

[Ex737Driver]

fupm!

Cal sucks!

It's your optimism that I find refreshing.

 

[luckytohaveajob]

Last year CAL could have had UAL for a quarter of today's price. Now CAL is going to pay four times more.

I guess taking the pilots pay makes CAL management so good or does CAL just have the dumbest pilots alive?

My vote is CAL just has dumb pilots.

 

[Ex737Driver]

Last year CAL could have had UAL for a quarter of today's price. Now CAL is going to pay four times more.

I guess taking the pilots pay makes CAL management so good or does CAL just have the dumbest pilots alive?

My vote is CAL just has dumb pilots.

WTF are you rambling about?

 

[Dewey Oxberger]

Last year CAL could have had UAL for a quarter of today's price. Now CAL is going to pay four times more.

I guess taking the pilots pay makes CAL management so good or does CAL just have the dumbest pilots alive?

My vote is CAL just has dumb pilots.

Regarding 58% of our pilots (the ones that were here 5 years ago at least) I couldn't agree with you more.

 

[luckytohaveajob]

WTF are you rambling about?

CAL management is going to use the CAL pilots pay raises to finance the much more expensive merger with UAL today instead of a much cheaper merger last year.

And CAL pilots will gladly go along with your crack managements new need of your raises DUMBA$$!

 

[AWACoff]

CAL management is going to use the CAL pilots pay raises to finance the much more expensive merger with UAL today instead of a much cheaper merger last year.

And CAL pilots will gladly go along with your crack managements new need of your raises DUMBA$$!

Do you refer to yourself in the third person? Specifically, do you say "the Milkman IS the man!"? Please go back on your meds.

 

[Ex737Driver]

CAL management is going to use the CAL pilots pay raises to finance the much more expensive merger with UAL today instead of a much cheaper merger last year.

And CAL pilots will gladly go along with your crack managements new need of your raises DUMBA$$!

I'm impressed that you seem to know exactly what I or my fellow CAL pilots will do regarding C08 or any possible merger with UAL. Do you also have the powerball numbers for next week as well? Wait, I get it. You're Jay Pierce, aren't you?

 

[motch]

seriously...
That's a great post and a perfect response!
Thanks Ex737Driver~

 

[luckytohaveajob]

Frank Lorenzo knew exactly what a CAL pilot would do. And every CAL manager since has know what a CAL pilot will do because CAL pilots do whatever their told.

CAL management is often cited as the best in the industry. Is the management so good or the pilots so weak?

 

[mamba20]

Since it hasn't been said yet I'll go ahead and do it. . . . . . Mesa Sucks!

 

[mamba20]

Frank Lorenzo knew exactly what a CAL pilot would do. And every CAL manager since has know what a CAL pilot will do because CAL pilots do whatever their told.

CAL management is often cited as the best in the industry. Is the management so good or the pilots so weak?

Up until 2005 it was the latter. Its a different ball game now.

 

[luckytohaveajob]

No indication to the contrary has been shown. 2006 hires thumping their chests means nothing.

I know CAL pilots who flying 95 hours a month, are ok not getting paid for training or deadhead, not worried about scope, have no problem with the bidding system or scheduling, and presently enjoy CAL just the way it is. These types of individuals are not unusual at CAL.

If CAL was so different today verse the last 27 years the discontent would have materialized into operational disruptions. CAL's DOT metrics are status quo. So where is all this rage and anger?

CAL pilots are the bottom feeders of the industry. CAL has always had the worst contract of all the legacies and always will.

 

[thor2j]

No indication to the contrary has been shown. 2006 hires thumping their chests means nothing.

I know CAL pilots who flying 95 hours a month, are ok not getting paid for training or deadhead, not worried about scope, have no problem with the bidding system or scheduling, and presently enjoy CAL just the way it is. These types of individuals are not unusual at CAL.

If CAL was so different today verse the last 27 years the discontent would have materialized into operational disruptions. CAL's DOT metrics are status quo. So where is all this rage and anger?

CAL pilots are the bottom feeders of the industry. CAL has always had the worst contract of all the legacies and always will.

Boy, you really have NO clue what you're talking about.

Please get you facts straight before you shoot that mouth off again.

Now go back under your bridge troll!!

 

[Ex737Driver]

No indication to the contrary has been shown. 2006 hires thumping their chests means nothing.

I know CAL pilots who flying 95 hours a month, are ok not getting paid for training or deadhead, not worried about scope, have no problem with the bidding system or scheduling, and presently enjoy CAL just the way it is. These types of individuals are not unusual at CAL.

If CAL was so different today verse the last 27 years the discontent would have materialized into operational disruptions. CAL's DOT metrics are status quo. So where is all this rage and anger?

CAL pilots are the bottom feeders of the industry. CAL has always had the worst contract of all the legacies and always will.

Unless you are flying the line, the two guys you know at CAL constitute a minority.

 

[luckytohaveajob]

Boy, you really have NO clue what you're talking about.

Please get you facts straight before you shoot that mouth off again.

Now go back under your bridge troll!!

It will be fun to see CAL pay four times the 2008 UAL/CAL deal costs to merge. And the name calling is interesting coming from CAL pilot. Since 1983 CAL pilots don't call anyone any names but instead get called names.

 

[whymeworry?]

CAL's stock price has risen as much as UAL's. The merger wouldn't cost any more in a stock swap (which is most likely what it would be engineered around).

What HASN'T changed is UAL's balance sheet. Their debt would have sunk CAL had we merged. Until they get that under control, they're not going to make a good merger candidate for anyone.

DAL/NW's debt is the 800 lb gorilla in the room right now. If they don't do an equity for debt swap before the next market crash, they're going to be facing problems too.

 

[flygirlqt]

No indication to the contrary has been shown. 2006 hires thumping their chests means nothing.

I know CAL pilots who flying 95 hours a month, are ok not getting paid for training or deadhead, not worried about scope, have no problem with the bidding system or scheduling, and presently enjoy CAL just the way it is. These types of individuals are not unusual at CAL.

If CAL was so different today verse the last 27 years the discontent would have materialized into operational disruptions. CAL's DOT metrics are status quo. So where is all this rage and anger?

CAL pilots are the bottom feeders of the industry. CAL has always had the worst contract of all the legacies and always will.

Interesting comments from one of the Brain surgeons.

Yet United ALPA wiped out the careers of hundreds of your fellow ALPA brothers in the mid 80's with Frontier.

Your pilots gave away scope and now we are all watching your small narrow body flying being decimated and farmed out to the lowest bidder. Aer Lingus is taking some of your International flying which will only be the tip of the iceberg. Another Scope blunder in which neither scenario can occur at CAL.

Your current brotherhood destroyed the pensions of your retirees. I am sure that bottom feeder is a typical comment about the current ilk like yourself from the retired ALPA UAL pilots.

When Tilton is through with you, you truly will be lucky to have a job. Now go crawl back under the rock you slithered out from.

 

[Hutchman]

Interesting comments from one of the Brain surgeons.

Yet United ALPA wiped out the careers of hundreds of your fellow ALPA brothers in the mid 80's with Frontier...........

.........Aer Lingus is taking some of your International flying which will only be the tip of the iceberg. Another Scope blunder in which neither scenario can occur at CAL.

Frontier pilots have been at CAL for 23+years now, hardly a wipe out of a career. Granted they did have to work for CAL when it was the last airline on anyone's list.

There is nothing in the CAL contract to stop what Air Lingus is doing to United. Joint Ventures with an international carrier are allowed in their current contract(CAL). There is only a protection to stop United from doing it to CAL. Huge difference.

 

[flygirlqt]

Frontier pilots have been at CAL for 23+years now, hardly a wipe out of a career. Granted they did have to work for CAL when it was the last airline on anyone's list.

There is nothing in the CAL contract to stop what Air Lingus is doing to United. Joint Ventures with an international carrier are allowed in their current contract(CAL). There is only a protection to stop United from doing it to CAL. Huge difference.

UAL pilots abandoned their Frontier ALPA brothers and sent them packing to non union CAL where they ended up at the bottom of their respective seat position. Their pay, benefits and retirements were in fact decimated in a vis a vis comparison with what could have been with UAL as to their earnings from Lorenzo controlled CAL. Another dark chapter of the ALPA brotherhood.

I thought I worded it carefully about Aer Lingus "taking" UAL flying contractually or not. That idiot constantly hammering CAL pilots is almost laughable as United is starting to give away their international routes with a few pickets and a protest here and there. Bottom line Aer Lingus is flying and ALPA, once again, put their tail between their legs and eventually you will not hear another whimper out of the union about it. Tilton tested the waters, ALPA blinked. To date this scenario has not happened yet at CAL and that just makes him look like a bigger tool.

 

[BID]

No indication to the contrary has been shown. 2006 hires thumping their chests means nothing.

I know CAL pilots who flying 95 hours a month, are ok not getting paid for training or deadhead, not worried about scope, have no problem with the bidding system or scheduling, and presently enjoy CAL just the way it is. These types of individuals are not unusual at CAL.

If CAL was so different today verse the last 27 years the discontent would have materialized into operational disruptions. CAL's DOT metrics are status quo. So where is all this rage and anger?

CAL pilots are the bottom feeders of the industry. CAL has always had the worst contract of all the legacies and always will.

I want to call you an idiot, but I will refrain from calling you an idiot. Plus calling you an idiot might be against the rules here at Flight Info. So yet another reason not to call you an IDIOT!

 

[lookin4better]

Is an April bid with recalls possible?

 

[Furloughed80]

Unfortunately it looks like the next bid will be in August. I don't know if there will be recalls on the August bid.

 

[davessn763]

2nd hand info from a downtown guy:
May or June Bid with 787 on it which should be the first recalls that will train in the fall.