United Airlines 2010 Annual Report Download - page 81

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholder of
Continental Airlines, Inc.
We have audited the accompanying consolidated balance sheets of Continental Airlines, Inc. (the “Company”) as
of December 31, 2010 (Successor) and December 31, 2009 (Predecessor), and the related statements of
consolidated operations, cash flows and stockholder’s equity for the period from October 1, 2010 to
December 31, 2010 (Successor), the period from January 1, 2010 to September 30, 2010 (Predecessor), and each
of the two years in the period ended December 31, 2009 (Predecessor). Our audits also included the financial
statement schedule listed in the index at Item 15(a). These financial statements and schedule are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these financial
statements and schedule based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. We were not engaged to perform an audit of
the Company’s internal control over financial reporting as of December 31, 2010. Our audits included
consideration of internal control over financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Company’s internal control over financial reporting as of December 31, 2010. Accordingly, we express no such
opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and significant estimates made by management,
and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of the Company as of December 31, 2010 (Successor) and December 31, 2009 (Predecessor),
and the consolidated results of its operations and its cash flows for the period from October 1, 2010 to
December 31, 2010 (Successor), the period from January 1, 2010 to September 30, 2010 (Predecessor), and each
of the two years in the period ended December 31, 2009 (Predecessor), in conformity with U.S. generally
accepted accounting principles. Also, in our opinion, the related financial statement schedule, when considered in
relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects,
the information set forth therein.
/s/ ERNST & YOUNG LLP
Houston, Texas
February 22, 2011
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