Frontier Shows a Profit

Old Dec 29, 08, 2:35 pm
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Frontier Shows a Profit

F9 back to profitability while WN is losing millions... now that's a bit upside-down from the way things have been, we'll have to see how things go through the winter but certainly a good sign.

Frontier Airlines Shows Net Profit for November 2008

DENVER, Dec. 29 /PRNewswire-FirstCall/ -- Frontier Airlines Holdings, Inc.
today filed its Monthly Operating Report for November 2008. Frontier reported a consolidated net profit of $2.9 million and an operating profit of
$2.5 million for the month. Included in Frontier's operating profit were non-cash mark-to-market losses on fuel hedge contracts of $2.0 million.

Frontier's November results also included:

A loss of $2.4 million in cash settlements from fuel hedging contracts.A book gain of $4.0 million on the sale of two A319 aircraft sold in the month included in reorganizational items, offset by other reorganizational expenses of $1.2 million.

Frontier's cash position increased to $53.4 million for November 2008. The Company realized net proceeds of $15.9 million from the sale of two aircraft which was offset by a $9.7 million net increase in holdbacks from the Company's credit card processors and $1.8 million of additional net deposits in collateral posted to fuel hedge counterparties.

November's cash balance does not include the proceeds from two aircraft sales that Frontier completed in December 2008.

"We are now seeing the changes we have made in our Company over the last year start to pay dividends," said Frontier President and CEO Sean Menke. "We are successfully controlling our costs, increasing revenue and managing our cash.
We feel very comfortable with our restructuring efforts moving ahead and look forward to more positive results in the future."
DenverF9Flier is offline  
Old Dec 29, 08, 5:07 pm
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Better news, however Planes are being sold off and it's downsizing. Schedules aren't working for me much. The reference to WN is noted, but with the fuel hedges it will look bad for WN as it will for F9 and others. By Jan '09 when 4th qtr results are in we will see little or no profits for airlines. WN will loose money, not the norm. But be beware, WN is a lurking hulk with metal and cash, they may be doing things that even I would be surprised about. MSP, LGA and who's next? Who would have thought Herb would let them in to Denver after the PENA flap! Can we spell expansion in DEN? It has begun, I Fly F9 alot. Summitt level and have 4 bookings next 2 months. But I fly WN more!
loboclone is offline  

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