| Continental Airlines Reports February 2010 Operational Performance |
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02/03/2010 10:52 (712 Day 11:43 minutes ago) | |||||
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The FINANCIAL -- Continental Airlines (NYSE: CAL) on March 1 reported a February consolidated (mainline plus regional) load factor of 77.7 percent, 5.2 points above the February 2009 consolidated load factor, and a mainline load factor of 78.1 percent, 5.2 points above the February 2009 mainline load factor.
Both February load factors were records for the month. The carrier reported a domestic mainline February load factor of 80.6 percent, 2.9 points above the February 2009 domestic mainline load factor, and a record international mainline load factor of 75.9 percent, 7.5 points above February 2009.
"In February 2010, Continental flew 6.1 billion consolidated revenue passenger miles (RPMs) and 7.8 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic increase of 3.3 percent and a capacity decrease of 3.8 percent as compared to February 2009. In February 2010, Continental flew 5.4 billion mainline RPMs and 6.9 billion mainline ASMs, resulting in a mainline traffic increase of 3.2 percent and a mainline capacity decrease of 3.7 percent as compared to February 2009. Domestic mainline traffic was 2.7 billion RPMs in February 2010, down 0.5 percent from February 2009, and domestic mainline capacity was 3.3 billion ASMs, down 4.1 percent from February 2009," Continental Airlines reported.
For February 2010, consolidated passenger revenue per available seat mile (RASM) is estimated to have increased between 7.5 and 8.5 percent compared to February 2009, while mainline RASM is estimated to have increased between 5.5 and 6.5 percent.
Continental estimates that the suspension of operations at its New York hub on February 10, 2010, and February 26, 2010, due to severe winter weather in the New York area reduced its consolidated passenger revenue for the month by approximately $25 million. The combination of available seat mile reductions caused by the two February snowstorms and the company's re-accommodation of many customers who were impacted by its flight cancellations resulted in a year-over-year RASM benefit of approximately one percentage point, compared to the year-over-year RASM performance the company would have expected had the company flown the capacity it cancelled as a result of the storms.
For January 2010, consolidated passenger RASM decreased 1.3 percent compared to January 2009, while mainline passenger RASM decreased 2.8 percent compared to January 2009.
Continental's regional operations had a February load factor of 74.6 percent, 5.3 points above the February 2009 regional load factor. Regional RPMs were 657.0 million and regional ASMs were 880.2 million in February 2010, resulting in a traffic increase of 3.5 percent and a capacity decrease of 4.0 percent versus February 2009.
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