News Release
Continental Airlines Leads the Industry with the Youngest Jet Fleet - Completes 1999 Boeing aircraft order with delivery tomorrow of a B-737-800
HOUSTON, December 14, 1999 -- Tomorrow, Continental Airlines (NYSE: CAL and CAL.A) will take delivery of its 58th new Boeing airplane in 1999, bringing its average jet fleet age to 7.4 years - the youngest jet fleet among the ten largest U.S. airlines.
"A modern jet fleet offers tremendous cost savings and gives us a definite marketing advantage over our competitors,” said Gordon Bethune, chairman and chief executive officer of Continental Airlines. “Our customers like knowing they are flying in the newest and finest aircraft in the market."
Five years ago, Continental’s jet fleet age averaged 13.4 years and consisted of a mix of nine jet fleet types. Today, Continental operates only five types of jet aircraft in its domestic fleet and operates the all-new Embraer regional jet at its Continental Express unit.
This year, the airline will take delivery of 85 new jets, including 58 Boeing aircraft at Continental and 27 Embraer regional jets at Continental Express. Continental has retired 61 jets. (See tables below)
| Aircraft Deliveries in 1999 | Aircraft Retirements in 1998 | ||
| Aircraft Type | Deliveries | Aircraft Type | Exits |
| 777-200 | 8 | 747-200 | 3 |
| 757-200 | 5 | DC-10-10 | 5 |
| 737-800 | 25 | DC-10-30 | 3 |
| 737-700 | 20 | 727-200 | 27 |
| RJ-145 | 21 | 737-200 | 3 |
| RJ-135 | 6 | DC-9-30 | 20 |
| Total | 85 | Total | 61 |
Since beginning its fleet modernization program in 1997, Continental has been Boeing’s largest airline customer in the U.S. two years in a row, purchasing 143 new aircraft, financed at interest rates below seven percent. The new jets - which are quieter, more fuel-efficient and more economical to operate - include 14 777s, 21 757s, and 108 737s. They replaced DC-9s, DC-10s, B-727s, and B-737-100s and 200s - aircraft that have since been retired from the domestic fleet.
By electing to purchase new aircraft and retire older models, Continental completed its Stage III conversion one month ahead of the federally mandated schedule requiring airlines to operate quieter planes.
"In addition to meeting all noise regulations, the fuel-efficiency and attractive financing associated with the new fleet ensure that Continental will remain cost competitive for the next two decades," said Larry Kellner, executive vice president and chief financial officer.
Next year, Continental will take delivery of 26 new Boeing aircraft, including its first Boeing 767-200ER and 767-400ER extended range aircraft, and retire 16 jets.
Transitioning from turboprops to regional jets, Continental’s regional subsidiary, Continental Express, took delivery of 27 new regional jets in 1999, including six of the new 37-seat Embraer 135s, a smaller version of the 50-seat Embraer 145. This brings to 62 the number of regional jets in the Continental Express fleet.
Continental Airlines is the fifth largest airline in the U.S., offering more than 2,100 departures daily to 129 domestic and 85 international destinations. Operating major hubs in Newark, Houston and Cleveland, Continental (http://www.continental.com) has extensive service throughout the Americas, and to Europe and Asia.
Continental is in the top half of FORTUNE magazine’s "100 Best Companies to Work for in America," and has won first or second place Frequent Flyer Magazine and J.D. Power awards for four consecutive years. Continental has received numerous awards for its BusinessFirst premium cabin, OnePass frequent flyer program and overall operations and management.