...bids are out for contractors to fly planes out of Den, looks like Jun 3 - Jun 7th. Good luck, I hope something changes, but I saw the flyaway package for 6 A319s DEN to China.
Frontier to retain all planes
By Jeffrey Leib
The Denver Post
Article Last Updated: 06/10/2008 05:59:38 PM MDT
Frontier Airlines has elected to retain the 70 planes in its fleet and has made payments to stay current on all aircraft leases and financing agreements.
On April 10, the Denver-based airline filed for Chapter 11 bankruptcy protection following a demand by First Data Corp., its credit-card processor, that Frontier significantly increase the reserves the airline must deposit with First Data.
Federal bankruptcy rules allowed Frontier to suspend payments on its aircraft for 60 days following the Chapter 11 filing but required the carrier to decide by the end of that period whether it would affirm or reject leases or other contracts related to the planes.
"On the 60th day, however, we had to make these outstanding payments or the aircraft lender/lessor might have been able to take possession of the aircraft," said Frontier spokesman Steve Snyder today.
"We are current on all our aircraft leases and financing," Snyder added, but he would not say how much money the airline paid to get up to date on the pacts.
Frontier's fleet consists of 60 Airbus jets, 22 owned by the carrier and 38 leased, Snyder said.
The airline also has 10 Bombardier Q-400 turboprop regional aircraft, with five of them owned by Frontier and five leased.
Of the decision to retain the fleet, Snyder said, "This shows progress and is another step in the reorganization of the company."
Jeffrey Leib: 303-954-1645 or
[email protected]
