Frontier Airlines Shows Net Profit For November 2008 | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne/NBAA2014 10.24.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.24.14 **
** Airborne/NBAA2014 10.22.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.22.14 **
** Airborne/NBAA2014 10.21.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.21.14 **
** Airborne/NBAA2014 10.20.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.20.14 **

Tue, Dec 30, 2008

Frontier Airlines Shows Net Profit For November 2008

Bankrupt Carrier Makes Money From Selling Planes

Frontier Airlines Holdings, Inc. filed its Monthly Operating Report for November 2008 on Tuesday... reporting 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. The airline's November results also included a loss of $2.4 million in cash settlements from fuel hedging contracts and other reorganizational expenses of $1.2 million... which were partially offset by a book gain of $4 million from the sale of two of the carrier's A319s.

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 other 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."

FMI: Read The Full Report

Advertisement

More News

Airborne 10.24.14: AML's Innovations, NASA Preps For Mars, LightHawk Saves

Also: AW609 Pilots Honored, Airbus' VIP Cabin, FreeFlight's FTX-200, Quicksilver S-LSA Milestone During our visit this week to NBAA 2014, Jim Campbell had a chance to talk with Mar>[...]

Airborne at NBAA-10.22.14: Legacy 500, Universal InSight, BendixKing AeroWave

Also: GE Honda, Sagem's Active SideStick, Syberjet Update, Techno Aerospace Knows How to Party The FAA handed over certification papers for Embraer's Legacy 500 executive jet durin>[...]

Airborne 10.24.14: AML's Innovations, NASA Preps For Mars, LightHawk Saves

Also: AW609 Pilots Honored, Airbus' VIP Cabin, FreeFlight's FTX-200, Quicksilver S-LSA Milestone During our visit this week to NBAA 2014, Jim Campbell had a chance to talk with Mar>[...]

AD: Pacific Aerospace Limited Airplanes

AD NUMBER: 2014-21-02 PRODUCT: Pacific Aerospace Limited Model FU24-954 and FU24A-954 airplanes.>[...]

ANN's Daily Aero-Linx (10.25.14)

The Canard Zone An online forum by and for owners and builders of canard aircraft.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC