F9 still bleeds

Old Nov 29, 08, 12:43 pm
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F9 still bleeds

Frontier Airlines Files Monthly Operating Report for October 2008


Last update: 9:03 p.m. EST Nov. 28, 2008
DENVER, Nov 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- Frontier Airlines Holdings, Inc. (FRNTQ:frontier airlines holdings i com
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12:54pm 11/28/2008

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FRNTQ 0.27, 0.00, 0.0%) today filed its Monthly Operating Report for October 2008. Frontier reported an operating loss of $15.9 million and a consolidated net loss of $20.5 million for the month. Excluding fuel hedging activities and reorganization expenses, Frontier would have reported a loss of $11.6 million.
Frontier's October results included $7.4 million in mark-to-market losses on fuel hedges and $1.5 million in reorganization costs.
"October is a seasonally low month for the airline industry," said Frontier President and CEO Sean Menke. "Our October performance is in accordance with our plan, but we know we must continue to be diligent with our cash management efforts while keeping a careful eye on our costs as we move forward with our restructuring efforts."
The cash balance for October 2008 does not include proceeds realized from the sale of two aircraft at the beginning of November. Frontier also plans to close on the sale of two more aircraft in early December, further improving the Company's cash position.
Companies in Chapter 11 Bankruptcy protection are required to file monthly operating reports to the U.S. Trustee in addition to quarterly reports filed with the U.S. Securities and Exchange Commission.
A copy of the Monthly Operating Report will be available at: FrontierAirlines.com/frontier/who-we-are/investor-relations/annual-reports- sec-filings.do
Wow........................20.5 million loss.
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