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News Release

Continental Airlines Reports June Performance

HOUSTON, July 2, 2001 -- Continental Airlines (NYSE: CAL) today reported its second highest systemwide June load factor of 78.0 percent, 2.0 points below last year's record June load factor. Continental's on-time arrival rate was 76.0 percent and its completion factor was 97.0 percent in June. Tropical Storm Allison caused systemwide disruptions at Continental after devastating flood waters paralyzed the city of Houston, the carrier's busiest hub airport.

In June 2001, Continental flew 5.9 billion revenue passenger miles (RPMs) and 7.6 billion available seat miles (ASMs), resulting in a traffic increase of 3.4 percent and a capacity increase of 6.0 percent versus June 2000. Domestic traffic was 3.6 billion RPMs, up 2.4 percent from June 2000, and domestic capacity was 4.7 billion ASMs, up 5.0 percent from last year.

The decline of Continental's load factor along with a decline in yield in June 2001 as compared to June 2000 resulted in a decrease in estimated systemwide passenger revenue per available seat mile (RASM) of between 10 and 12 percent.

Continental will continue to provide operational and RASM information in its monthly traffic release.

Continental Express, Continental's wholly owned regional subsidiary, reported a record load factor of 68.9 percent, 1.0 points above last June's record. Continental Express flew 318.7 million RPMs and 462.3 million ASMs in June, resulting in a traffic increase of 20.6 percent and a capacity increase of 18.8 percent versus June 2000.

                         PRELIMINARY TRAFFIC RESULTS
JUNE                               2001        2000          Change
REVENUE PASSENGER MILES (000)
Domestic              3,612,704      3,526,685   2.4 Percent
International         2,312,188      2,201,903   5.0 Percent
Transatlantic         1,115,065      1,134,399  (1.7)Percent
Latin America           670,772        651,702   2.9 Percent
Pacific                 526,351        415,802  26.6 Percent
Total Jet             5,924,892      5,728,588   3.4 Percent
Cont'l. Express         318,742        264,309  20.6 Percent
AVAILABLE SEAT MILES (000)
Domestic              4,672,982      4,450,646   5.0 Percent
International         2,921,098      2,710,956   7.8 Percent
Transatlantic         1,275,199      1,296,437  (1.6)Percent
Latin America           922,500        894,769   3.1 Percent
Pacific                 723,399        519,750  39.2 Percent
Total Jet             7,594,080      7,161,602   6.0 Percent
Cont'l. Express         462,339        389,140  18.8 Percent
PASSENGER LOAD FACTOR
Domestic           77.3 Percent   79.2 Percent  (1.9)Points
International      79.2 Percent   81.2 Percent  (2.0)Points
Transatlantic      87.4 Percent   87.5 Percent  (0.1)Points
Latin America      72.7 Percent   72.8 Percent  (0.1)Points
Pacific            72.8 Percent   80.0 Percent  (7.2)Points
Total Jet          78.0 Percent   80.0 Percent  (2.0)Points
Cont'l. Express    68.9 Percent   67.9 Percent   1.0 Points
CARGO REVENUE TON MILES (000)
Total                    78,574         90,002 (12.7)Percent
YEAR-TO-DATE                      2001           2000         Change
REVENUE PASSENGER MILES (000)
Domestic             19,886,182     19,359,412   2.7 Percent
International        12,281,945     12,137,225   1.2 Percent
Transatlantic         5,414,417      5,724,339  (5.4)Percent
Latin America         4,076,749      3,995,116   2.0 Percent
Pacific               2,790,779      2,417,770  15.4 Percent
Total Jet            32,168,127     31,496,637   2.1 Percent
Cont'l. Express       1,665,244      1,363,050  22.2 Percent
AVAILABLE SEAT MILES (000)
Domestic             27,475,519     26,127,800   5.2 Percent
International        16,796,085     16,204,717   3.6 Percent
Transatlantic         7,157,587      7,352,242  (2.6)Percent
Latin America         5,682,268      5,541,719   2.5 Percent
Pacific               3,956,230      3,310,756  19.5 Percent
Total Jet            44,271,604     42,332,517   4.6 Percent
Cont'l. Express       2,692,480      2,187,633  23.1 Percent
PASSENGER LOAD FACTOR
Domestic           72.4 Percent   74.1 Percent  (1.7)Points
International      73.1 Percent   74.9 Percent  (1.8)Points
Transatlantic      75.6 Percent   77.9 Percent  (2.3)Points
Latin America      71.7 Percent   72.1 Percent  (0.4)Points
Pacific            70.5 Percent   73.0 Percent  (2.5)Points
Total Jet          72.7 Percent   74.4 Percent  (1.7)Points
Cont'l. Express    61.8 Percent   62.3 Percent  (0.5)Points
CARGO REVENUE TON MILES (000)
Total                   498,027        534,618  (6.8)Percent
PRELIMINARY OPERATIONAL RESULTS
JUNE                                   2001   2000         Change
On-Time Performance                    76.0%  73.1%      2.9 Points
Completion Factor                      97.0%  97.3%     (0.3)Points
YEAR-TO-DATE                           2001   2000         Change
On-Time Performance                    81.1%  77.3%      3.8 Points
Completion Factor                      98.3%  97.8%      0.5 Points
PRELIMINARY RASM RESULTS
JUNE 2001 YEAR-OVER-YEAR
RASM Change      (10%) - (12%)