Continental Airlines Announces Sale of Pass Through Certificates to Finance Acquisition of 30 New Boeing Aircraft

HOUSTON, April 10, 2007 /PRNewswire-FirstCall via COMTEX News Network/ — Continental Airlines, Inc. (NYSE: CAL) today announced the sale of $1,146,810,000 of Continental Airlines Pass Through Certificates, Series 2007-1. The Certificates were issued in three different series, comprised of $756,762,000 of Class A Certificates with a coupon of 5.983% per annum, $221,850,000 of Class B Certificates with a coupon of 6.903% per annum and $168,198,000 of Class C Certificates with a coupon of 7.339% per annum.

Proceeds from the sale of the Certificates will initially be held in escrow by a depositary institution. The escrowed funds will be used to acquire equipment notes that will be issued by Continental to finance its purchase of 30 new Boeing 737-900ER and 737-800 aircraft scheduled for delivery from January 2008 to March 2009.

The Certificates were offered and sold pursuant to the Prospectus Supplement, dated March 27, 2007, to the Prospectus, dated April 10, 2006, of Continental. A copy of the Prospectus Supplement is available on Continental’s web site at continental.com under "About Continental", "Investor Relations", "SEC Filings" or by writing to DeAnne Gabel, Director - Investor Relations, Continental Airlines, Inc., P.O. Box 4607, Houston, TX 77210-4607.


Source: Continental Airlines
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