Continental : CO : COA

Le départ de CO de Skyteam pour rejoindre la Star Alliance ne se fait pas sans difficultés. le Dot et le DoJ n'était pas du même avis. Immunité antitrust.

Sur Aeroccontact :

La concurrence serait remise en question sur trop de lignes. Le Département américain de la Justice (DoJ) a refusé que Continental Airlines profite de l’immunité antitrust que lui procurerait son entrée dans Star Alliance. Celle-ci avait pourtant été approuvée par le Département des Transports (DoT).

Selon le DoJ, l’intégration sans condition de Continental dans la couverture pose des problèmes sur plusieurs lignes transocéaniques et domestiques : elle éliminerait la concurrence entre Continental et United sur les réseaux transpacifique et sud-américain et la diminuerait considérablement vers Pékin.

Elle pourrait également devenir problématique pour les liaisons vers le Canada et New York – Lisbonne, New York – Stockholm, Chicago – Francfort et Washington – Francfort.

Continental et les membres de Star Alliance continuent cependant de croire à l’intégration de la compagnie américaine. Ils devraient présenter une nouvelle demande retravaillée et intégrant des conditions répondant aux objections du DoJ. Continental doit quitter SkyTeam pour intégrer Star Alliance le 24 octobre.

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Résultats Juin 09 de COA. Le mainline load factor est à 85,2%.

Un détail qui apparait de plus en plus souvent : la ponctualité d'ailleurs reportée au DoT.

Le RPM ( revenue passenger Mile ) continue de baisser. L'offre est exprimée en ASM ( available seat mile )

Le compte rendu sur Air Transport News

Continental Airlines reported a June consolidated (mainline plus regional) load factor of 84.8 percent, 1.1 points above the June 2008 consolidated load factor, and a mainline load factor of 85.2 percent, 1.0 point above the June 2008 mainline load factor. The carrier reported an all time record domestic mainline June load factor of 88.1 percent, 2.2 points above the June 2008 domestic mainline load factor, and an international mainline load factor of 82.5 percent, 0.1 points above June 2008.

During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 80.5 percent and a mainline segment completion factor of 99.8 percent.

In June 2009, Continental flew 8.1 billion consolidated revenue passenger miles (RPMs) and 9.5 billion consolidated available seat miles (ASMs), resulting in a consolidated traffic decrease of 6.5 percent and a capacity decrease of 7.8
percent as compared to June 2008.
In June 2009, Continental flew 7.2 billion mainline RPMs and 8.5 billion mainline ASMs, resulting in a mainline traffic decrease of 6.3 percent and a mainline capacity decrease of 7.5 percent as compared to June 2008. Domestic mainline traffic was 3.7 billion RPMs in June 2009, down 6.5 percent from June 2008, and domestic mainline capacity was 4.2 billion ASMs, down 8.8 percent from June 2008.

For June 2009, both consolidated and mainline passenger revenue per available seat mile (RASM) are estimated to have decreased between 19.5 and 20.5 percent compared to June 2008. For May 2009, consolidated passenger RASM decreased 19.9 percent compared to May 2008, while mainline passenger RASM decreased 19.1 percent compared to May 2008.

Continental ended the second quarter 2009 with an unrestricted cash, cash equivalents and short-term investments balance of approximately $2.77 billion.

Continental's regional operations had a June load factor of 81.5 percent, 1.8 points above the June 2008 regional load factor. Regional RPMs were 846.5 million and regional ASMs were 1,038.8 million in June 2009, resulting in a traffic
decrease of 8.2 percent and a capacity decrease of 10.3 percent versus June 2008.

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CO et neuf autres membres de la Star Alliance expliquent que le DoJ n'appréhende pas suffisamment les spécificités de l'industrie du transport aérien.

De l'AP :

WASHINGTON (AP) — Continental, United and eight other airlines say the Justice Department's opposition to their bid for broad antitrust immunity was based on shortsighted analysis that ignored conditions in the airline industry.

The airlines, part of an alliance that Continental plans to join this fall, want immunity to cooperate in setting prices and schedules on international service without violating U.S. antitrust laws. They said in a filing Monday that consumers benefit when airlines can expand their networks through alliances with other carriers.

The decision is in the hands of the Transportation Department, which gave preliminary approval to the immunity request in April.

But the Justice Department weighed in last month, saying that broad, global immunity would drive up fares and reduce competition on some international routes.

It recommended that the Transportation Department approve a scaled-back immunity shield to cover trans-Atlantic routes, but not on all the routes sought by the nine airlines, which make up the Star Alliance, one of three major teams of global carriers.

**--** The airlines said the Justice Department's "radical shift" in policy would hobble them in competing against SkyTeam, a competing alliance led by Delta Air Lines Inc. and Air France, which already has immunity.

The Star Alliance members accused the Justice Department of trying to "substitute a narrowly focused and ill-conceived policy that ignores unique considerations affecting international aviation."

AMR Corp.'s American Airlines, which is separately seeking antitrust immunity to work more closely with British Airways on trans-Atlantic service, also opposed the Justice Department's position. American said a new policy limiting airline alliances "could not come at a worse time."

Airlines have been battered in the past two years, first by rising fuel prices and then a global recession that has undercut travel demand.

The Transportation Department declined to comment on the cases.

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Après l'appréciation du Department of Justice, le DoT retire des lignes de l'immunité anti-trust pour la Star Alliance.

Le courrier sur Flight Global :

After requiring virtually no carve-outs in its tentative approval of antitrust immunity among members of the Star Alliance, the US Department of Transportation has expanded the number of city pairs excluded from immunity in its final approval of the agreement.

Earlier this year in April the department awarded tentative approval of broad antitrust immunity among 10 Star carriers including prospective member Continental, who plans to transition from SkyTeam to Star in October.

DOT also gave a tentative nod to a proposed joint venture among Air Canada, Continental, Lufthansa and United.

At the time it awarded tentative approval DOT reasoned few carve-outs - cities exempted from antitrust immunity to preserve competition - were necessary. The agency also said existing carve-outs under a current United-Lufthansa tie-up from Chicago/Washington-Dulles to Frankfurt would be eliminated. Other existing carve-outs from Chicago/San Francisco to Toronto would remain in effect.

But more carve-outs are included in the final order granting approval after the US Department of Justice filed comments late last month arguing competition would be weakened in specific city pairs if DOT firmed up its tentative approval.

"In reviewing the record in light of DOJ's concerns, the Department has decided that certain additional carve outs are appropriate, in the particular circumstances of this case, to render the grant of immunity no broader than necessary to achieve substantial public benefits," DOT explains.

!! That translates to the establishment of carve-outs from broad antitrust immunity granted among the 10 members in four transatlantic markets - New York to Copenhagen, Geneva, Lisbon and Portugal. The exclusions disappear
if a new entrant enters any of the markets with at least five roundtrips per week for nine consecutive months.

DOT did not endorse Justice's arguments that no evidence exists to support dissolving current carve outs from Chicago and Washington to Frankfurt, upholding its decision to eliminate the restrictions once the joint venture is complete. New carve-outs for US transborder markets include Cleveland-Toronto, Houston-Calgary, Houston-Toronto
and New York-Ottawa as DOT explains competition in those markets under ATI would be reduced from two carriers to one. Like the transatlantic carve-outs, DOT explains their elimination depends on a new entrant introducing five weekly flights and operating the service for nine consecutive months.

Addressing some of DOJ's concerns over ample competition on Chinese routes, DOT is requiring a carve-out in the US-Beijing market until a carrier that has no ATI with Star carriers introduces service. Both Delta Air Lines and US Airways have chosen to postpone new service to Beijing as a result of the economic slowdown.

Reiterating its position issued in April DOT says: "We tentatively found that a grant of antitrust immunity was required by the public interest. We have not been persuaded to change those findings."

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Continental aurait modifié sa commande de 787 passant de 8 787-8 + 17 787-9 à 11 787-8 + 14 787-9. Dans les 2 cas le total reste de 25. De plus Continental pourrait "benéficier" de certains slots qui se seraient libérés. A suivre...

Résultats 2Q9 de CO.

CO au milieu du gué, avec des décisions stratégiques à prendre dans les prochains mois. Les efforts de réductions de coûts sont réels, est-ce que ce sera suffisant ? Dans la modification de flotte, des 737 Classic partent, des NG arrivent, l'airframe est quasiment le même, les moteurs aussi (-900ER ), tout est dans les conditions d'aquisition.

Les sièges haute contributions se vident, le Passenger Revenue per Available Seat Mile chute de près de 18% d'une année à l'autre.

Le Mainline Yield en baisse de + 18%

Sur ATN

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Continental Airlines today reported a second quarter 2009 net loss of $213 million ($1.72 diluted loss per share). Excluding $44 million of previously announced special charges, Continental recorded a net loss of $169 million ($1.36 diluted loss per share).

Second quarter results were adversely affected by significant declines in high yield traffic as many business travelers curtailed travel or purchased lower yield economy tickets due to the weakened economy. In addition, the H1N1 virus reduced second quarter consolidated passenger revenue by an estimated $50 million.
Fuel expense declined $762 million (46.1 percent) in the second quarter 2009 compared to the second quarter 2008, while revenue declined $918 million compared to the same period.

In response to the significant decline in revenue, Continental is implementing a number of measures to raise revenues and reduce costs that are designed to achieve approximately $100 million in annual benefits when fully implemented in 2010 including:

-- Eliminating approximately 1,700 positions across the company, including management and clerical positions. This is in addition to the previously announced elimination of 500 reservation agent positions and special company offered leaves of absence extended for 700 flight attendants. Continental is offering employees voluntary programs to minimize the number of involuntary furloughs and reductions in force.

-- Increasing domestic checked baggage fees by $5 for customers who do not prepay those fees online. This change is effective immediately for travel Aug. 19, 2009, and beyond.

-- Increasing the telephone reservation booking service fee by $5 effective immediately.

-- Other revenue initiatives to be announced when implemented

"My co-workers are doing a great job of working together to focus on customer service despite significant challenges currently facing our industry," said Larry Kellner, chairman and chief executive officer. "While the unit revenue decline
appears to be bottoming out, it is doing so at low levels and we must take aggressive steps to increase revenue and reduce costs. The most difficult changes will be the employee reductions that we are forced to make throughout
the company."

Second Quarter Revenue and Capacity

Total revenue for the quarter was $3.1 billion, a decrease of 22.7 percent compared to the same period in 2008. Passenger revenue for the quarter fell 24.2 percent ($883 million) compared to the same period last year due to lower fares and passenger traffic declines.

Consolidated revenue passenger miles (RPMs) for the second quarter decreased 6.4 percent year-over-year on a capacity decrease of 7.8 percent, resulting in a second quarter consolidated load factor of 82.7 percent, 1.3 points higher than the second quarter of 2008.

Consolidated yield for the second quarter decreased 19.1 percent year-over-year.

Consolidated passenger revenue per available seat mile (RASM) for the second quarter decreased 17.7 percent year-over-year.

Mainline RPMs in the second quarter of 2009 decreased 5.7 percent compared to the second quarter of 2008, on a capacity decrease of 7.3 percent year-over-year.

Mainline load factor was 83.2 percent, up 1.5 points year-over-year for the second quarter. Continental's mainline yield decreased 18.3 percent in the second quarter over the same period in 2008. As a result, second quarter 2009 mainline RASM was down 16.9 percent compared to the second quarter of 2008.

Cargo revenue in the second quarter of 2009 decreased 37.9 percent ($50 million) compared to the same period in 2008, due to reduced freight volume and lower pricing.

Second Quarter Operations and Notable Accomplishments

During the quarter, employees earned $9 million in cash incentives for running the best on- time operation among the major network carriers in May and June as reported by the U.S. Department of Transportation (DOT). Continental recorded an on-time arrival rate of 78.7 percent and a systemwide mainline segment completion factor of 99.6 percent during the quarter.

"My co-workers have done an impressive job running a good operation and delivering great service despite very high load factors, which put additional stress on the system," said Jeff Smisek, president and chief operating officer. "We
will get through this global recession by working together and continuing to outperform our competitors."

The DOT approved the application for Continental to join the existing antitrust immunized alliance including United Airlines and eight other Star Alliance member carriers, ensuring effective global competition with other antitrust immunized alliances while encouraging the retention and growth of open skies between the U.S. and other nations. Continental remains focused on providing a seamless transition for its customers from the SkyTeam alliance to Star Alliance this fall.

During the quarter, Continental contributed $50 million to its defined benefit pension plans.

Continental continued to install DIRECTV on its aircraft during the quarter, with the new service now offered on 16 aircraft. DIRECTV gives customers the choice of 77 channels of live television programming -- more channels than any other carrier -- including live sports, news, weather and children's shows. The company expects to complete installation on its fleet of Boeing 737 Next-Generation and Boeing 757-300 aircraft by the first quarter of 2011.

Second Quarter Costs

Due to significantly lower jet fuel costs, Continental's mainline cost per available seat mile (CASM) decreased 12.9 percent (13.2 percent excluding special charges) in the second quarter compared to the same period last year. The mainline price of a gallon of fuel dropped 39.7 percent year-over-year and mainline fuel consumption fell by 9.4 percent. Holding fuel rate constant and excluding special items, second quarter 2009 mainline CASM increased 2.8 percent compared to the second quarter of 2008.

"Once again, the entire Continental team did an outstanding job controlling costs and running an efficient operation in a challenging economic environment," said Zane Rowe, Continental's executive vice president and chief financial officer.

Fuel costs for the quarter were $762 million lower compared to the same period last year as a result of a decrease in fuel prices and lower volumes. Consolidated fuel price was $2.07 per gallon in the second quarter of 2009, of which $0.49 per gallon was related to fuel hedge losses. Consolidated fuel price was $3.46 per gallon in the
second quarter 2008, which included $0.17 per gallon in fuel hedge gains. During the quarter, mainline fuel consumption decreased 9.4 percent compared to the same period last year, while mainline RPMs decreased only 5.7 percent compared to the same period.

Fleet Changes Continue to Improve Efficiency

Continental continued to improve fuel efficiency during the quarter by adding modern, fuel-efficient aircraft, equipped with winglets. During the quarter, Continental took delivery of two new Boeing 737-900ERs, one of which was painted with a retro livery to commemorate the airline's 75th anniversary. In addition, the company removed from service four Boeing 737-500s.

Continental is expected to take delivery of seven Boeing 737 aircraft in the second half of 2009. The company expects to remove 29 additional Boeing 737-300 and 737-500 aircraft from service by January 2010.

Cash and Liquidity

Continental ended the second quarter with $2.77 billion in unrestricted cash, cash equivalents and short-term investments.

On July 1, 2009, Continental completed the sale of $390 million of Pass Through Certificates, the first offering of its kind to close since the credit markets froze last year. A portion of the proceeds from the sale of the certificates will be used to finance the company's purchase of five new Boeing 737-900ERs expected to be delivered by the end of 2009. The remainder of the proceeds will be used for general corporate purposes. The Pass Through Certificates will be secured by a total of 17 of the company's aircraft.

In addition, Continental completed an agreement with a commercial bank to provide financing for two Boeing 737-900ER aircraft scheduled for delivery in July of 2009, one of which has already been delivered. The company has now completed financing arrangements for all of its new aircraft deliveries this year and has backstop financing available for all of its new aircraft deliveries in 2010.

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Toutes ces données sont en langue anglaise évidement, pour la version française : nada, rien d'aussi fouillé sur aucun site ou News letters en langue française ! Je fais avec depuis longtemps, comme nombre d'entre nous ;)

COA veut integrer la Star Alliance après son départ du Skyteam

WASHINGTON, 13 août 2009 (AFP)

La compagnie aérienne américaine Continental Airlines a indiqué jeudi qu'elle projetait d'intégrer l'alliance Star Alliance le 27 octobre, soit trois jours après son départ programmé de SkyTeam.

2009 AFP

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Membres Star Alliance :

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Le transfert de COA de Skyteam vers la Star Alliance sera effectif le 27 octobre 09

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Début de l'histoire en juin 2008...

Résultats en langue native de Continental Airlines, mainline et regional. Juillet, aout 09
Lecture longue, intéressante avant toute notation ou analyse financière

COA fête ses 75 ans cette année.

De Reuters :


HOUSTON, Sept. 1 /PRNewswire-FirstCall/ --

Continental Airlines today reported an August consolidated (mainline plus regional) load factor of 85.8 percent, 1.9 points above the August 2008 consolidated load factor, and a mainline load factor of 86.6 percent, 1.7 points above the August 2008 mainline load factor.

The carrier reported a domestic mainline August load factor of 88.8 percent, 2.5 points above the August 2008 domestic mainline load factor, and an international mainline load factor of 84.6 percent, 1.2 points above August 2008.

All four August load factors were records for the month.
During the month, Continental recorded a U.S. Department of Transportation (DOT) on-time arrival rate of 82.4 percent and a mainline segment completionfactor of 99.8 percent.

In August 2009, Continental flew 8.8 billion consolidated revenue passengermiles (RPMs) and 10.2 billion consolidated available seat miles (ASMs),resulting in a consolidated traffic decrease of 3.9 percent and a capacitydecrease of 6.0 percent as compared to August 2008.

In August 2009,Continental flew 7.9 billion mainline RPMs and 9.1 billion mainline ASMs,resulting in a mainline traffic decrease of 3.6 percent and a mainlinecapacity decrease of 5.6 percent as compared to August 2008.

Domestic mainlinetraffic was 3.9 billion RPMs in August 2009, down 6.1 percent from August2008, and domestic mainline capacity was 4.4 billion ASMs, down 8.7 percentfrom August 2008.

For August 2009, consolidated passenger revenue per available seat mile (RASM)is estimated to have decreased between 16.5 and 17.5 percent compared toAugust 2008 while mainline RASM is estimated to have decreased between 17.0and 18.0 percent.

For July 2009, consolidated passenger RASM decreased 17.4percent compared to July 2008, while mainline passenger RASM decreased 18.3percent compared to July 2008.
Continental's regional operations had an August load factor of 79.2 percent,2.8 points above the August 2008 regional load factor. Regional RPMs were860.6 million and regional ASMs were 1,086.9 million in August 2009, resultingin a traffic decrease of 6.2 percent and a capacity decrease of 9.5 percentversus August 2008.

Continental Airlines is the world's fifth largest airline. Continental,together with Continental Express and Continental Connection, has more than2,750 daily departures throughout the Americas, Europe and Asia, serving 133domestic and 132 international destinations.
More than 750 additional pointsare served via current alliance partners. With more than 43,000 employees,Continental has hubs serving New York, Houston, Cleveland and Guam, andtogether with its regional partners, carries approximately 63 millionpassengers per year.

Celebrating its 75th anniversary this year, Continental consistently earnsawards and critical acclaim for both its operation and its corporate culture. For the sixth consecutive year, FORTUNE magazine named Continental the No. 1World's Most Admired Airline on its 2009 list of World's Most AdmiredCompanies. For more company information, go to continental.com.
This press release contains forward-looking statements that are not limited tohistorical facts, but reflect the company's current beliefs, expectations orintentions regarding future events.

All forward-looking statements involverisks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. For examples of such risks anduncertainties, please see the risk factors set forth in the company's 2008 Form 10-K and its other securities filings, including any amendments thereto,which identify important matters such as the significant volatility in the cost of aircraft fuel, its transition to a new global alliance, 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 theoperations of its regional operators, disruptions in its computer systems, andindustry conditions, including the recession in the U.S. and global economies,the airline pricing environment, terrorist attacks, regulatory matters,excessive taxation, industry consolidation, the availability and cost ofinsurance, public health threats and the seasonal nature of the airlinebusiness.

The company undertakes no obligation to publicly update or reviseany forward-looking statements to reflect events or circumstances that mayarise after the date of this press release, except as required by applicablelaw.

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Et les tableaux correspondant : 1

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- 2 :

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- 3 :

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La flotte de CO sur Planespotters, merci à eux

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Le rapport "Owned" / "Leased" reste encore favorable pour CO, relativement à ses besoins de trésorerie