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Continental Airlines Reports the Highest October Load Factor in Company History

HOUSTON, November 5, 1998 -- Continental Airlines (NYSE: CAI.B and CAI.A) today reported a systemwide load factor of 71.1 percent in October, the highest October load factor in Continental's history and 1.4 points above the previous record set last October.

In October 1998, Continental flew 4.5 billion revenue passenger miles (RPMs) and 6.4 billion available seat miles (ASMs), resulting in a traffic increase of 10.9 percent and a capacity increase of 8.6 percent versus October 1997. International traffic was 1.5 billion RPMs, up 13.9 percent from October 1997 and international capacity was 2.1 billion ASMs, up 8.9 percent from last year.

Continental Express, Continental's wholly owned regional subsidiary, also reported its highest October load factor of 59.4 percent, up 0.7 points from last year, based on 147.2 million RPMs and 248.0 million ASMs. Continental Express October traffic was up 25.0 percent and October capacity was up 23.6 percent from last year.

PRELIMINARY TRAFFIC RESULTS

OCTOBER                               1998         1997         Change
REVENUE PASSENGER MILES (000)
Domestic                       3,061,588      2,797,025     9.5 Percent
International                  1,487,261      1,305,342    13.9 Percent
Total Jet                      4,548,849      4,102,367    10.9 Percent
Cont'l. Express                  147,243        117,758    25.0 Percent
AVAILABLE SEAT MILES (000)
Domestic                       4,260,341      3,928,936     8.4 Percent
International                  2,134,689      1,959,975     8.9 Percent
Total Jet                      6,395,030      5,888,911     8.6 Percent
Cont'l. Express                  248,001        200,719    23.6 Percent
PASSENGER LOAD FACTOR
Domestic                    71.9 Percent   71.2 Percent      0.7 Points
International               69.7 Percent   66.6 Percent      3.1 Points
Total Jet                   71.1 Percent   69.7 Percent      1.4 Points
Cont'l. Express             59.4 Percent   58.7 Percent      0.7 Points
CARGO REVENUE TON MILES (000)
Total                             75,090         74,669     0.6 Percent
YEAR-TO-DATE                          1998           1997          Change
REVENUE PASSENGER MILES (000)
Domestic                      29,935,997     27,574,972     8.6 Percent
International                 15,304,864     12,378,221    23.6 Percent
Total Jet                     45,240,861     39,953,193    13.2 Percent
Cont'l. Express                1,282,513        976,729    31.3 Percent
AVAILABLE SEAT MILES (000)
Domestic                      41,126,998     38,555,818     6.7 Percent
International                 21,006,181     17,337,711    21.2 Percent
Total Jet                     62,133,179     55,893,529    11.2 Percent
Cont'l. Express                2,162,575      1,745,535    23.9 Percent
PASSENGER LOAD FACTOR
Domestic                    72.8 Percent   71.5 Percent      1.3 Points
International               72.9 Percent   71.4 Percent      1.5 Points
Total Jet                   72.8 Percent   71.5 Percent      1.3 Points
Cont'l. Express             59.3 Percent   56.0 Percent      3.3 Points
CARGO REVENUE TON MILES (000)
Total                            709,972        599,639    18.4 Percent