Continental defers Boeing delivery

Continental Airlines is to defer firm deliveries of 36 Boeing 737 aircraft originally scheduled for delivery in 2005, 2006 and 2007 due to weakness in the aircraft industry.

Continental Chairman and Chief Executive Officer Gordon Bethune, said that the company has to see some return on invested capital in its existing fleet before it determines its need for additional airplanes.

The airline will take scheduled delivery of four 737-800 aircraft in the fourth quarter of 2003 and 12 737-800 aircraft in 2004.

Continental is in discussions with The Boeing Company regarding the terms of delivery of the 11 remaining 757-300 aircraft that it has on order.