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 12.19.14 ** HD iPad-Friendly -- Airborne 12.19.14 **
** Airborne 12.17.14 ** HD iPad-Friendly -- Airborne 12.17.14 **
** Airborne 12.15.14 ** HD iPad-Friendly -- Airborne 12.15.14 **

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 12.17.14: Evergreen Woes, Foolish Pilot Tricks, No 757 Replacement--Yet

Also: $1M Aero-Photo, Draken Gets A-4s, 'Super Dell' Acts Super Dumb, Legendary Bell 47, Osprey Hours Evergreen Vintage Aircraft, LLC, the company that owns many of the aircraft on>[...]

Aero-TV: Redbird's Roger Sharp -- Pushing The Aero-Educational Envelope

One of The Most Important Aspects of GA is Flight Training... But Is The Industry Keeping Up With The Times? While at the Redbird Migration 2014, ANN CEO and Editor-In-Chief, Jim C>[...]

Aero-News: Quote Of The Day (12.19.14)

"This sale enables us to focus on improving Heathrow for passengers and winning support for Heathrow expansion." Source: John Holland-Kaye, Chief Executive of Heathrow.>[...]

AD: Airbus Airplanes

AD NUMBER: AD 2014-25-06 PRODUCT: All Airbus Model A300 series airplanes; Airbus Model A300 B4-600, B4-600R, and F4-600R series airplanes, and Model A300 C4-605R Variant F airplane>[...]

ANN's Daily Aero-Linx (12.19.14)

How GPS Works We know it sometimes seems like a magic box that knows all and tells all, but the basics of how your GPS works are really pretty simple.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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