First U.S. Carrier to Order the Newest Member of the Boeing Next-Generation 737 Airplane Family
HOUSTON -Continental Airlines (NYSE: CAL) today announced that it has converted 12 existing firm orders for Boeing 737 aircraft, scheduled for delivery in 2008, into 12 new Boeing 737-900ERs. The new 737-900ERs are also expected to deliver in 2008.
Continental is the first U.S. carrier to order the extended-range twinjet that flies about 500 nautical miles farther than the existing 737-900.
„These new aircraft will have among the lowest operating costs in our fleet, allowing us to serve high demand markets more efficiently,“ said Larry Kellner, chairman and chief executive officer. „The new aircraft are part of our continued focus on fleet modernization, fuel efficiency and delivering the best product in the business.“
Today’s announcement for the new Boeing 737-900ER aircraft does not change Continental’s firm commitments for new Boeing 737 aircraft. The carrier still has firm commitments for 65 Boeing 737s and has the ability to convert more of its existing Boeing 737 orders for the 737-900ER.
737-900ER Provides Efficiencies and Opportunities
Since announcing its fleet modernization program a decade ago, Continental has reduced the number of airplane types in its fleet from nine to three and reached its goal of operating one of the youngest and most efficient fleets among U.S. airlines. Its modern, fuel-efficient fleet provides a natural fuel hedge and gives the airline an advantage over its competitors. Since 1998, the company has improved fuel efficiency by nearly 25 percent per available seat mile as a result of several factors including fleet modernization, implementation of fuel-saving technology like winglets, and improved operating procedures.
The Boeing 737-900ER shares the same performance attributes of other Next- Generation 737s currently in Continental’s fleet, giving the carrier greater efficiencies in pilot training, crew flexibility, simplified maintenance and savings on spare part inventory costs. The company has arranged backstop financing for the 737-900ER aircraft.
Continental will configure the 737-900ER with 20 first class seats, providing excellent capacity for complimentary OnePass frequent flyer upgrades. The coach cabin will carry approximately 153 passengers.
Continental Background
Continental Airlines is the world’s fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 3,200 daily departures throughout the Americas, Europe and Asia, serving 154 domestic and 138 international destinations. More than 400 additional points are served via SkyTeam alliance airlines. With more than 43,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with Continental Express, carries approximately 61 million passengers per year. Continental consistently earns awards and critical acclaim for both its operation and its corporate culture.
In 2006, Continental Airlines won its sixth J.D. Power and Associates award since 1996. The carrier received the highest rank in customer satisfaction among network carriers in North America in the J.D. Power and Associates 2006 Airline Satisfaction Index Survey(SM). For the third consecutive year, FORTUNE magazine named Continental the No. 1 Most Admired Global Airline on its 2006 list of Most Admired Global Companies. Continental was also named the No. 1 airline on the publication’s 2006 America’s Most Admired airline industry list. Additionally, Continental again won major awards at the OAG Airline of the Year Awards including „Best Airline Based in North America“ for the third year in a row, and „Best Executive/Business Class“ for the fourth consecutive year. For more company information, visit continental.com.
