storminpilot
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http://biz.yahoo.com/ap/040909/frontier_airlines_2.html
Associated Press
Frontier Trims Flight Schedule by 13 Pct.
Thursday September 9, 11:54 pm ET
By Sandy Shore, AP Business Writer
Frontier Trims Flight Schedule by About 13 Percent As Rising Fuel Prices Batter Bottom Line
DENVER (AP) -- Frontier Airlines Inc. has pared its flight schedule by about 13 percent and made other adjustments to trim costs as rising fuel prices continue to batter its bottom line.
The low-cost carrier expects additional savings when it completes its shift to an all-Airbus fleet and implements a new reservations system next year, Frontier CEO Jeff Potter said Thursday at the carrier's annual shareholders meeting.
"We're trying to position ourselves as if we had to compete against anybody. The only thing that is beyond our control is fuel prices," he said.
Citing rising fuel costs and weaker-than-expected revenue, Frontier has said it expects to post a loss in the quarter ending in September, its third consecutive quarterly loss. Potter declined to provide specifics after the meeting.
From June 2003 to last June, Frontier's fuel costs increased about 34 percent, chief financial officer Paul Tate said. Crude oil prices peaked in August at nearly $49 a barrel and were hovering this week around $43.
Potter said the company also has no plans to charge customers extra for booking reservations by telephone or through a ticket agent.
Several major airlines are charging service fees for tickets booked at reservations centers or airport ticket counters in the United States. Their representatives say the fees will help them better compete with low-cost carriers that sell most of their tickets online.
The Denver-based carrier has about 4,500 employees and serves about 50 cities in the United States and Mexico.
Frontier shares closed down 1 cent at $8.25 Thursday on the Nasdaq stock exchange.
On the Net: http://www.frontierairlines.com
Associated Press
Frontier Trims Flight Schedule by 13 Pct.
Thursday September 9, 11:54 pm ET
By Sandy Shore, AP Business Writer
Frontier Trims Flight Schedule by About 13 Percent As Rising Fuel Prices Batter Bottom Line
DENVER (AP) -- Frontier Airlines Inc. has pared its flight schedule by about 13 percent and made other adjustments to trim costs as rising fuel prices continue to batter its bottom line.
The low-cost carrier expects additional savings when it completes its shift to an all-Airbus fleet and implements a new reservations system next year, Frontier CEO Jeff Potter said Thursday at the carrier's annual shareholders meeting.
"We're trying to position ourselves as if we had to compete against anybody. The only thing that is beyond our control is fuel prices," he said.
Citing rising fuel costs and weaker-than-expected revenue, Frontier has said it expects to post a loss in the quarter ending in September, its third consecutive quarterly loss. Potter declined to provide specifics after the meeting.
From June 2003 to last June, Frontier's fuel costs increased about 34 percent, chief financial officer Paul Tate said. Crude oil prices peaked in August at nearly $49 a barrel and were hovering this week around $43.
Potter said the company also has no plans to charge customers extra for booking reservations by telephone or through a ticket agent.
Several major airlines are charging service fees for tickets booked at reservations centers or airport ticket counters in the United States. Their representatives say the fees will help them better compete with low-cost carriers that sell most of their tickets online.
The Denver-based carrier has about 4,500 employees and serves about 50 cities in the United States and Mexico.
Frontier shares closed down 1 cent at $8.25 Thursday on the Nasdaq stock exchange.
On the Net: http://www.frontierairlines.com
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