|NATIONAL MEDIATION BOARD|
|Washington, D.C. 20572
February 9, 2000
FOR IMMEDIATE RELEASE
NATIONAL MEDIATION BOARD
[Continental Airlines and the International Association of Machinists and Aerospace Workers (IAM&AW) released the following statement concerning their conclusion of a tentative agreement reached in mediation.]
Re: Continental Airlines Reaches Tentative Contract Agreement with Flight Attendant Unit
Houston, Feb. 9, 2000 -- Continental Airlines, Inc. (NYSE: CAL and CAL.A) announced today that it has reached a tentative agreement for a new collective bargaining agreement with its 8,500 Flight Attendants, represented by the International Association of Machinists. The contract is for 54 months and contains major changes, including significant improvements in retirement, work rules, vacation and pay. The contract also contains an industry leading Domestic Partner package and extends companion travel to all flight attendants.
Commenting on the deal, CEO Gordon Bethune said, "We promised the industry's best flight attendants that their contract would not only contain industry standard pay, but would be the type of agreement worthy of the best in the business. I am pleased to say that after five months of intensive negotiations we've managed to do just that. Continental has become the best airline in the industry because of the hard work of all 51,500 employees. It is a pleasure to be able to recognize the superb efforts of our flight attendants with a contract they can truly be proud of."
Continental said it will not release specific contract terms pending communication of the information to its flight attendants.
NMB Case Number A-12982
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