Frontier ! F9 ! FFT

Comment Frontier Airlines tente de s'en sortir, sous chapitre 11, la cie doit justifier mensuellement de ses actions de "rectification".
Quelques détails financiers pas trop ardus sur Air Transport News , 29 01 09

Frontier Airlines Holdings, Inc. today filed its Monthly Operating Report for December 2008. Frontier
reported a consolidated operating profit of $18.9 million and a net profit of $18.7 million for the month. Excluding special items, the Company reported an operating profit of $18.3 million and a net profit of $17.0 million. The Company, excluding special items, reported an operating margin of 16.8 percent and a total net margin of 15.5 percent for the month.

Special items for the month included:

* Non-cash mark-to-market gains on fuel hedge contracts of $0.6 million

* Net gain of $1.4 million in reorganization expense, due to the sale of two A319 aircraft sold in the month for a book gain of $4.1 million, which was offset by other reorganization expenses of $2.7 million

* Loss on early extinguishment of debt of $0.3 million

When combining the Operating Reports for each of the months comprising the December quarter, the Company reported a consolidated operating profit of $5.6 million and a net profit of $1.1 million. Excluding special items, the Company reported an operating profit of $14.4 million and a net profit of $7.7 million for the quarter.

Special items for the quarter included:

* Non-cash mark-to-market losses on fuel hedge contracts of $8.7 million

* Charges of $0.4 million on early extinguishment of debt

* Gain of $2.7 million in reorganization activities, including $8.1 million on the sale of four A319 aircraft and expenses of $5.4 million

Frontier's cash position increased to $69.1 million for the period ending December 2008. The Company realized net proceeds of $25.5 million from the sale of two aircraft, which was offset by a decrease in working capital due to the traditionally low booking period at the end of the year.

"These outstanding results are a testament to the sacrifices and hard work put forth by all of our employees," said Frontier President and CEO Sean Menke. "We have worked extremely hard throughout our restructuring to achieve these results that are bucking industry trends. Despite significant competitive pressure and a rapidly changing macro-economic environment, we have been able to reduce our operating expenses, increase revenues and maintain our high quality of service."

Financial and restructuring highlights during the quarter:

* For the quarter, mainline unit costs excluding fuel, decreased 4.2 percent to 6.20 cents, despite a 16.0 percent reduction in mainline capacity, an 8.0 percent reduction in stage length and an average fleet utilization decrease of 7.2 percent

* For the quarter year-over-year, mainline passenger unit revenue increased by 7.2 percent, and total mainline unit revenue increased by 10.2 percent

* Load factor for the quarter improved 3.9 points versus the prior year period

*
Negotiated and secured long-term concessionary agreements with all represented labor groups

*
Successfully launched AirFairs, an innovative, customer-friendly fare structure that lets customers choose from one of three fare levels that best meets their specific travel needs

* Sold four A319 aircraft, adding significant liquidity to the Company

* Among the industry leaders in key DOT performance metrics

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.
http://www.airtransportnews.aero/article.pl?mcateg=&id=15610

Suite du feuilleton Frontier sur Air Transport News

Le Monthly Operating Report :

Frontier Airlines Holdings, Inc. filed its Monthly Operating Report for January 2009. Frontier reported an operating profit of $2.8 million and a consolidated net loss of $27.9 million
for the month. Excluding reorganization items and mark-to-market fuel hedge transactions, Frontier would have reported an operating loss of $0.4 million and a consolidated net loss of $2.8 million.

Frontier's January results included:

* Reorganization costs of $28.3 million, the majority of which consisted of unsecured claims allowed by the court

* A realized loss of fuel hedge contracts of $4.3 million partially offset by a mark-to-market gain of $1.1 million on fuel hedging activity

* Mainline capacity reduction of 13.3 percent year-over-year

* Mainline unit cost excluding fuel (CASM ex-fuel) was 6.03 cents, down 8.1 percent from
previous year

* Mainline total unit cost reduction of 20.1 percent versus previous year

* Mainline passenger revenue (PRASM) increase of 1.1 percent versus previous year

* Mainline total unit revenue (RASM) increase of 4.4 percent versus previous year

"A third straight month of solid financial performance shows we are charging in the right direction," said Frontier President and CEO Sean Menke. "We have significantly reduced our costs excluding fuel on a year-over-year basis by 8.1% despite a significant drop in capacity. This, coupled with a productive increase in our unit revenue and lower fuel expense, helped us perform exceptionally well in a seasonally slow month with the backdrop of a weakening
economy.
We are now focused on securing the necessary financing to facilitate our emergence from bankruptcy later this year."

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.

http://www.airtransportnews.aero/article.pl?mcateg=&id=16112

Info du 6 mars pour sortir du Chapter 11, Republic Holding


Frontier Airlines said on Thursday it received a commitment for USD$40 million debtor-in-possession
financing from Republic Airways Holdings.

The airline, which filed for Chapter 11 bankruptcy protection on April 10, 2008, said the new financing,
which matures in April, preserves its stability as it seeks a plan to emerge from bankruptcy later this year.

It said that the financing comes with a condition that Frontier allow Republic a stipulated damage claim
in the amount of USD$150 million. The agreement also needs to be approved by bankruptcy court.

Frontier already received USD$30 million in DIP funding from Republic and Credit Suisse Securities and
AQR Capital in August 2008.

Republic said in the statement that Frontier is on the right path to emerge from bankruptcy this summer.

(Reuters)

http://news.airwise.com/story/view/1236340218.html
Des liens sur Republic

http://www.republicairways.com/whoweare.html

http://en.wikipedia.org/wiki/Republic_Airlines

Merci, Swift.
Republic : feeder d'US Airways.

Frontier à mettre bientôt dans fusions ?

Résultats d'avril pour Frontier Holding, avec un additif sur Lynx Aviation ( des Dash Q400 "Frontier Express" )

Le Revenue Passenger Miles (RPM) chute de 17,5%
L'offre Available Seat Miles ( ASM ) a été réduit de 16,1%

Load factor ( taux de chargement/remplissage ) est à 80%, - 1 point

Suivi d'un joli tableau, sur ATN :

http://www.airtransportnews.aero/article.pl?mcateg=&id=17227
http://en.wikipedia.org/wiki/Lynx_Aviation_(United_States)

Frontier revient dans le "vert" : résultats Avril 2009,
Chapter 11 oblige : nous sommes informés tous les mois !

Sur ATN :

Frontier Airlines Holdings, Inc. today reported a net profit of $2.4 million and its sixth consecutive
monthly operating profit. The results were filed in the Company's unaudited Monthly Operating Report for April 2009.

For the month of April 2009, Frontier reported a consolidated operating profit of $5.0 million compared to an operating loss of $21.9 million for the same period in 2008, and a total consolidated net income of $2.4 million compared to a net loss of $26.9 million for April 2008.
Excluding $1.1 million in expenses directly associated with bankruptcy, the Company would have reported net income of $3.4 million, or a net margin of 4 percent.

Operational results for the month of April included:

* A 16.1 percent year-over-year mainline capacity reduction

* Mainline unit cost excluding fuel (CASM ex-fuel) of 6.24 cents, a reduction of 1.4 percent from the prior year

* Mainline total unit cost of 8.49 cents, a reduction of 19.5 percent compared to April 2008

* Mainline passenger revenue (PRASM) of 8.51 cents, down 2.1 percent from the previous year

* Mainline total unit revenue (RASM) 9.30 cents, a 1.3 percent increase from April 2008

Frontier's unrestricted cash position remained stable with a balance of $70.1 million for the period ending April 2009.

http://www.airtransportnews.aero/article.pl?mcateg=&id=17557

Bonjour

http://www.atwonline.com/news/other.html?issueDate=10%2F29%2F2009

Pour ce mois

Frontier Airlines flew 709.4 million RPMs in September, down 0.4% year-over-year. Capacity slipped 0.2% to 858.2 million ASMs and load factor was 0.1 point lower at 82.7%.

Bonne lecture