HOUSTON (11/18/2004) – The following is a statement from Capt. Jay Panarello, chairman of the Continental pilots’ Master Executive Council, represented by the Air Line Pilots Association, Int’l, following Continental Airlines management’s request for concessions.

"Our pilots are well aware of the volatile nature of this industry. We are heavily invested in our company and have time and again worked hard – often sacrificed – to help it survive. Until today’s announcement, Continental management had resisted the notion of approaching us for concessions.

"While management is seeking to capture savings beginning March 1, ALPA has a long-established and orderly process that we will follow to determine whether the concessions management is seeking come from a true ‘need’ – not just a ‘want’ – and under what conditions the pilot group might consider making such an investment. If the need is established, this process must include securing appropriate returns for the pilots’ investment when the airline returns to profitability.

"Most important, to effectively reduce costs, a broad spectrum of stakeholders in the airline’s cost equation would have to participate. Our pilots expect management to lead by example."

The Air Line Pilots Association, Int’l [ALPA] is the bargaining agent for the 4,100 pilots of Continental. ALPA is the world’s oldest and largest pilot union, representing 64,000 airline pilots at 43 airlines in the U.S. and Canada. Its website is located at www.alpa.org.