Continental Airlines: The Company Amy Minto Jocelyn Littleton Kurt Niemi Chris Chou

The Company Brief Company Background Brief Company Background Strengths Strengths Areas of Opportunity Areas of Opportunity Challenges Challenges Financials Financials

Company Description Business: Transporting Passengers, Cargo and Mail since 1934 (Source #1) Business: Transporting Passengers, Cargo and Mail since 1934 (Source #1) Market: Flies Domestic and International Routes (Source #1) Market: Flies Domestic and International Routes (Source #1) 132 US destinations 132 US destinations 126 International destinations on 6 continents 126 International destinations on 6 continents History: Filed for bankruptcy twice and emerged (Source #5) History: Filed for bankruptcy twice and emerged (Source #5) Employer: Repeatedly voted one of America’s most Admired US Airlines by Fortune Magazine (Source # 1 and #2) Employer: Repeatedly voted one of America’s most Admired US Airlines by Fortune Magazine (Source # 1 and #2)

Strengths Multiple Alliances Multiple Alliances Sky Team Alliance Sky Team Alliance Commuter Alliances Commuter Alliances Train to Plane Alliance Train to Plane Alliance International Alliances International Alliances Capacity - Express Jet Capacity - Express Jet Marketing Marketing Young Aircraft Fleet (Source #6) Young Aircraft Fleet (Source #6) The Go Forward Plan (Source #9) The Go Forward Plan (Source #9)

Strengths (continued) Employees Employees Employee Benefits (Source #1) Employee Benefits (Source #1) Few Unionized Employees (Source # 4) Few Unionized Employees (Source # 4) Efficiencies - Fly farther with fewer employees (Source # 4) Efficiencies - Fly farther with fewer employees (Source # 4) Customer Service Customer Service #1 for on time % of flights (Source #6) #1 for on time % of flights (Source #6) #1 in lowest cancellations (Source # 6) #1 in lowest cancellations (Source # 6) Frequent Flyer Program Frequent Flyer Program Technology - Advanced IVR and Voice Recognition software Technology - Advanced IVR and Voice Recognition software Location - New York & Houston Hubs (int’l growth & route expansion) Location - New York & Houston Hubs (int’l growth & route expansion)

Areas of Opportunity Marketing Agreements lowered yields per ticket Marketing Agreements lowered yields per ticket 92% Debit to Total Equity (Source #4) 92% Debit to Total Equity (Source #4) Assets used as Collateral (Source #4) Assets used as Collateral (Source #4) Image (Source #4) Image (Source #4) Route Network (Source #4) Route Network (Source #4)

Challenges Federal Regulations Federal Regulations Aviation and Transportation Security Act Aviation and Transportation Security Act Environmental Regulations Environmental Regulations Record high fuel costs Record high fuel costs CCC+ credit rating CCC+ credit rating Possibility of additional terrorist attacks Possibility of additional terrorist attacks Increased presence of low cost carriers and price competition Increased presence of low cost carriers and price competition Source #1, 2

Sources 1. SEC Filings From Continental.com dated 3/13/ CF5F605616E&s=/default.asp&i=irSEC CF5F605616E&s=/default.asp&i=irSEC CF5F605616E&s=/default.asp&i=irSEC 2. SEC Filings from Continental.com dated 3/8/ pdf pdf pdf 3. Continental Alliances from Continental.com SWOT Analysis on Continental Continental History from Continental.com Investor Presentations from Continental.com cover_x.htm cover_x.htm cover_x.htm 8. The Go Forward Plan