Frontier Posts April Monthly Profits

[AnimalTale]

Company Reports Operating Profit for Sixth Consecutive Month

Related Quotes
Symbol Price Change
FRNTQ.PK 0.52 +0.02

DENVER, May 28 /PRNewswire-FirstCall/ -- Frontier Airlines Holdings, Inc. (Pink Sheets: FRNTQ - News) today reported a net profit of $2.4 million and its sixth consecutive monthly operating profit. The results were filed in the Company's unaudited Monthly Operating Report for April 2009.

For the month of April 2009, Frontier reported a consolidated operating profit of $5.0 million compared to an operating loss of $21.9 million for the same period in 2008, and a total consolidated net income of $2.4 million compared to a net loss of $26.9 million for April 2008. Excluding $1.1 million in expenses directly associated with bankruptcy, the Company would have reported net income of $3.4 million, or a net margin of 4 percent.

Operational results for the month of April included:

A 16.1 percent year-over-year mainline capacity reduction
Mainline unit cost excluding fuel (CASM ex-fuel) of 6.24 cents, a reduction of 1.4 percent from the prior year
Mainline total unit cost of 8.49 cents, a reduction of 19.5 percent compared to April 2008
Mainline passenger revenue (PRASM) of 8.51 cents, down 2.1 percent from the previous year
Mainline total unit revenue (RASM) 9.30 cents, a 1.3 percent increase from April 2008
Frontier's unrestricted cash position remained stable with a balance of $70.1 million for the period ending April 2009.

"Once again, for the sixth month in a row, we have seen the payoff of our year-long restructuring and cost-reduction efforts," said Frontier President and CEO Sean Menke. "We have driven our operating costs to among the lowest in the industry, giving us the cost structure needed to produce operating profitably for the last six months in one of the most competitive markets in the country and during one the most difficult economies in nearly 80 years."


Ok, good job guys.

Cya

 

[FBN0223]

Good work, Frontier!!!

 

[Mea25000]

That is really amazing with all that Mexico flying... well done

 

[GuppyWN]

I'm just shocked that an airline the size of Frontier can fly to Mexico and Canada and make money. That's not what Gary Kelly has been telling us. If a SWA jet crossed a border I am convinced it would fall out of the sky.

Gup

 

[Avee8tr]

F9 does not fly to Canada anymore....try again Guppy.

 

[Hair-on-Fire]

That is really amazing with all that Mexico flying... well done

Don't think the craziness of the swine flu broke until the very end of April.

 

[starchkr]

F9 does not fly to Canada anymore....try again Guppy.

I was just wondering the other day when our Vancouver seasonal service would start back up...thought it would by now for the cruise season.

 

[Cornelius]

I heard Vancouver is completely cancelled and isn't coming back this season.

 

[Eagle757shark]

It is good to see Frontier doing well again. I think the thing of concern is the $70 million in unrestricted cash. I think that may be a concern finding financing to exit bankruptcy. I still wouldn't mind seeing AirTran and Frontier stepping up their marketing agreement to a full fledge merger. Would make a national network capable of competing with anyone.

 

[sshrae]

It is good to see Frontier doing well again. I think the thing of concern is the $70 million in unrestricted cash. I think that may be a concern finding financing to exit bankruptcy. I still wouldn't mind seeing AirTran and Frontier stepping up their marketing agreement to a full fledge merger. Would make a national network capable of competing with anyone.

I think they will probably get exit financing but the problem they will face is if fuel makes its way up to 100$ plus a barrel, and it looks like it might be heading that way. Its not easy hedging fuel when you are seriously in debt. Best of luck though F9 I miss working there.