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Feb 20, 2004|
Frontier Airlines Reports Preliminary Traffic for February 2004
DENVER (March 8, 2004) - Frontier Airlines (Nasdaq: FRNT) today announced preliminary traffic results for February 2004. Revenue passenger miles (RPMs) increased 47.9 percent to 414,387,000 for February 2004 from the same period last year. Available seat miles (ASMs) increased 24.8 percent to 614,077,000 for February 2004 from the same period last year. This resulted in a load factor for February 2004 of 67.5 percent, an increase of 10.5 points from February 2003, when the airline reported a load factor of 57 percent. The airline carried 437,836 passengers during February 2004, a 39.8 percent increase from February 2003. The airline reported passenger yield of 10.73 cents for the month of February 2004, a decrease of 8.6 percent from the same period last year. Its passenger Revenue per Available Seat Mile (RASM) was 7.24 cents, up .55 cents or 8.2 percent from February 2003.
"February was another great passenger traffic month for Frontier as we continued to see significant improvement in unit revenues as well as a 10.5 point increase in load factor on capacity growth of 24.8 percent, on a year-over-year basis," said Jeff Potter, president and CEO. "However, even in light of our significant increase in unit revenue and strong advanced bookings for March, like the rest of the industry we continue to struggle with historically high fuel prices. We anticipate that higher than expected fuel costs, along with costs associated with training and preparation currently taking place for capacity increases and establishment of new routes in early fiscal year 2005, will adversely impact our fourth quarter earnings target."
The following table represents comparisons for the month of February, calendar and fiscal year-over-year traffic results.