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HOUSTON, Dec. 29 /PRNewswire-FirstCall/ -- For the sixth consecutive year, Continental Airlines (NYSE: CAL) today was named one of the "100 Best Companies to Work For" by FORTUNE magazine in a study conducted in conjunction with the Great Place to Work Institute of San Francisco. Continental ranked No. 62, the only passenger airline on the list.
"This recognition once again underscores our belief in the value of treating each other with dignity and respect," said Gordon Bethune, Continental's chairman and chief executive officer. "In spite of the very difficult past two years, our culture has enabled us to withstand the many pressures of our marketplace. We are probably stronger now than ever before."
The rankings, based on a study that selects the nation's best companies to work for by evaluating work environment and company culture, compensation and benefits, and other measures of job satisfaction, will appear in the Jan. 12, 2004 issue of FORTUNE magazine.
Continental's entry consisted of company-provided information and a survey developed by FORTUNE and the Great Place to Work Institute. The survey was sent to randomly selected employees asking them to evaluate trust in management, pride in work and relationships with co-workers.
"The most important factor in selecting companies for this list is what employees themselves have to say about their workplaces," wrote Robert Levering and Milton Moskowitz of the Great Place to Work Institute in a FORTUNE press release.
Continental's employees created the company's 2004 entry. They told the Great Place to Work Institute to "Picture This: A Great Place to Work" by sending photos that each captured a different reason the carrier is a great place to work. Newark Cargo Sales Agent Leighton Ford, who helped deliver the entry, said that he was impressed by the number of employees that submitted photos to the Great Place to Work Institute.
"I couldn't believe how many pictures we delivered to the Great Place to Work Institute," Ford said. "I have always thought that Continental is a great place to work, and I was proud to see how many of my co-workers from around the world thought the same."
Despite the financial challenges faced by the entire airline industry in 2003, Continental maintained the company culture and employee benefits that have distinguished the carrier from many other companies.
-- The carrier contributed $372 million to the Continental pension plan
in 2003, significantly exceeding the company's minimum contribution
requirements for the year.
-- While the airline industry faced severe financial struggles in 2003,
Continental found ways to cut costs and generate additional revenue
without asking its work groups for wage concessions.
-- Continental enhanced its On-Time Bonus program to include an
opportunity to earn a $100 bonus on a quarterly basis if on-time
performance averages 80 percent or higher.
-- Continental recalled many of its furloughed co-workers in 2003 and has
made a commitment to fill vacancies with current or displaced
employees.
-- The Continental Scholarship Fund awarded 71 scholarships to
Continental employees or their dependents in 2003. Scholarships are
applied towards tuition and fees at accredited, post high-school
educational institutions.
Continental Airlines is the world's seventh-largest airline with more than 2,200 daily departures to 127 domestic and 96 international destinations throughout the Americas, Europe and Asia. With 42,000 mainline employees, the airline has hubs serving New York, Houston, Cleveland and Guam, and carries approximately 41 million passengers per year. Fortune ranks Continental one of the 100 Best Companies to Work For in America, highest among major U.S. carriers in the quality of its service and products, and No. 2 on its list of Most Admired Global Airlines. For more company information, visit continental.com.
SOURCE Continental Airlines
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