Continental Responds to DOT New York Slot Auction Proposal

HOUSTON, May 16 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE: CAL)
today issued the following statement in response to the U.S. Department of
Transportation's (DOT) announcement to implement slot auctions at John F.
Kennedy and Newark Liberty Airports:
The DOT proposal to auction off 10 percent, or approximately 95, of the
slots at Newark over the next five years is an unlawful taking of property
that Continental will vigorously oppose. Moreover, auctioning slots will do
nothing to ease congestion, but will raise the cost of air travel to consumers
and act as an effective increase in taxes on an industry already known to bear
an unreasonably high tax rate. Additionally, the proposal will result in
reduced service to various communities and will create unnecessary market
uncertainty at a time when the skyrocketing cost of oil and jet fuel has
already created an extremely challenging environment for the industry.
The auction proposal does not address the real need to modernize an
outdated and inadequate air traffic control system to increase capacity and
meet passenger demand.
SOURCE Continental Airlines

Continental Airlines Corporate Communications, +1-713-324-5080,
corpcomm@coair.com