Exhibit 12.1

CONTINENTAL AIRLINES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS)

	Quarter Ended March 31,			Years Ended December 31,
	2009			2008			2007			2006			2005			2004
Earnings:
Earnings (Loss) Before Income Taxes and Minority Interest		(136	)		(695	)		556			361			(75	)		(455	)
Less:
Undistributed Earnings (Losses) of Equity Investees		—			9			18			36			62			66
Plus:
Interest Expense		93			376			393			409			417			395
Capitalized Interest		(8	)		(33	)		(27	)		(18	)		(12	)		(14	)
Amortization of Capitalized Interest		9			35			36			40			40			39
Portion of Rent Expense Representative of Interest Expense		229			934			917			969			906			856
		187			608			1,857			1,725			1,214			755
Fixed Charges:
Interest Expense		93			376			393			409			417			395
Portion of Rent Expense Representative of Interest Expense		229			934			917			969			906			856
Total Fixed Charges		322			1,310			1,310			1,378			1,323			1,251
Coverage Adequacy (Deficiency)		(135	)		(702	)		547			347			(109	)		(496	)
Coverage Ratio	NA			NA				1.42			1.25		NA			NA