Mon, Nov 17, 2008
Filing Recaps Monthly Operating Reports
Frontier Airlines filed its Quarterly Report Friday with the
Securities Exchange Commission for the quarter ending in September
2008. Frontier states it already reported this information in
Monthly Operating Reports (MOR) filed with the court for July,
August and September of 2008 as a requirement under Chapter 11
Bankruptcy protection.
Frontier reported an operating loss of $5.8 million and a
consolidated net loss of $30.4 million for the three-month period
ending September 2008. Included in the net loss for the quarter was
$16.6 million attributable to reorganization costs. The operating
loss and operating margin reported are still among the best in the
industry when compared to other airlines.
During the quarter, Frontier incurred an increased fuel expense
of more than $70 million, or a 72.6% increase in the price of fuel
per gallon, compared to the same quarter last year. Fuel prices
were still at near record highs during most of the September
quarter, though they have dropped appreciably since.
In better news for the airline, Frontier says its cost per
available seat mile, excluding fuel, was at 5.68... the lowest in
Frontier's history and a nearly 10 percent drop over Q3 2007.
"Losses are never acceptable, but we can point to progress in
our restructuring efforts," said Frontier President and CEO Sean
Menke. "Our Company continues to execute to its business plan and
will use that momentum as we plan our emergence from
bankruptcy."
As ANN reported, Frontier filed for Chapter 11
bankruptcy protection in April.
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