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23-Jul-2010 1:02 PM

Continental reports highest second quarter pre-tax profit since 2000

Continental Airlines revenue up 18.6% - financial/traffic highlights:

  • Three months ended 30-Jun-2010:Total operating revenue: USD3,7008 million, +18.6% year-on-year;
    • Total operating costs: USD3,380 million, +3.0%;
    • Fuel: USD968 million, +8.6%;
    • Labour: USD822 million, +2.9%;
    • Landing fees and other rentals: USD215 million, -0.5%;
    • Operating profit: USD328 million, compared with a loss of USD154 million in p-c-p;
    • Net profit: USD233 million, compared with a loss of USD213 million in p-c-p;
    • Passenger numbers: 16.3 million, -0.3%;
    • Load factor: 84.6%, +1.9 ppt;
    • Average yield: USD 14.01 cents, +17.3%;
    • Passenger revenue per ASM: USD 11.85 cents, +19.9%;
    • Total revenue per ASM: USD 13.27 cents, +18.9%;
    • Costs per ASM: USD 12.10 cents, +3.3%;
    • Costs per ASM excl fuel: USD 8.54 cents, +2.0%;
  • Six months ended 30-Jun-2010:
    • Total operating revenue: USD6,877 million, +13.0%;
    • Total operating costs: USD6,599 million, +4.8%;
    • Fuel: USD1,822 million, +12.1%;
    • Labour: USD1,618 million, +3.5%;
    • Landing fees and other rentals: USD428 million, +0.7%;
    • Operating profit: USD278 million, compared with a loss of USD208 million in p-c-p;
    • Net profit: USD87 million, compared with a loss of USD349 million in p-c-p;
    • Passenger numbers: 30.8 million, +0.3%;
    • Load factor: 82.1%, +3.0 ppts;
    • Average yield: USD 13.72 cents, +9.5%;
    • Passenger revenue per ASM: USD 11.27 cents, +13.7%;
    • Total revenue per ASM: USD 12.67 cents, +13.1%;
    • Costs per ASM: USD 12.16 cents, +4.9%;
    • Costs per ASM excl fuel: USD 8.74 cents, +2.7%;
    • Cash and cash equivalents: USD3,500 million;
  • 3Q2010 forecast:
    • Capacity (ASMs): +0.2%;
    • Mainline: +0.2%;
    • Costs per ASM: USD 12.01 cents to USD 12.11 cents;
    • Mainline: USD 11.19 cents to USD 11.29 cents
    • FY2010 forecast:
    • Capacity (ASMs): +0.5% to +1.5%;
    • Mainline: +0.5% to +1.5%;
    • Costs per ASM: USD 12.16 cents to USD 12.21 cents;
    • Mainline: USD 11.31 cents to USD 11.36 cents. [more - perspective]

Continental Airlines: “Consolidated yield for the quarter increased 17.3% year-over-year. Combined with the 1.9 point year-over-year increase in consolidated load factor, second quarter 2010 consolidated passenger revenue per available seat mile (RASM) increased 19.9%. Continental's mainline yield increased 16.3% in the second quarter over the same period in 2009. Mainline load factor of 85.0% was also a second quarter record, up 1.8 points year-over-year. Second quarter 2010 mainline RASM increased 18.8 percent year-over-year. Mainline RPMs in the second quarter of 2010 increased 1.5% on a mainline capacity decrease of 0.7% year-over-year,” Company statement. Source: Continental Airlines, 22-Jul-2010.

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