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Mar 21, 2002|
Frontier Airlines Amends Fleet Plan
DENVER (March 20, 2002) - Frontier Airlines (Nasdaq: FRNT) today announced it has entered into an agreement with Airbus to purchase five new Airbus 114-seat A318 aircraft powered by CFM56 engines from CFM International with options for an additional 5 A318 aircraft. Today's announcement amends the airline's prior plans to purchase the same number of A318 aircraft powered by Pratt and Whitney PW6000 engines. As discussed in the airline's latest Form 10-Q, filed Feb. 14, 2002, it appeared likely that delivery of the Airbus A318 aircraft, powered with the Pratt and Whitney engines, would be delayed until as late as mid-2006. Pursuant to this revised order, four of the CFM-powered A318s are scheduled for delivery in calendar year 2003 and one in calendar year 2004.
The airline also announced today that it has entered into an aircraft purchase agreement with Airbus for two additional 132-seat Airbus A319 aircraft, for delivery in December 2002. The order increases the airline's firm order for Airbus A319s from 10 to 12, including three purchased aircraft that have already been delivered. These two additional A319s will replace two leased 737-200s, which Frontier has opted to return to its lessor 22 months ahead of schedule. Frontier also retains its plans to lease 15 Airbus A319s, including three leased A319s that have already been delivered. With this announcement, by the end of Frontier's fiscal year 2003, which runs from April 1, 2002 to March 31, 2003, Frontier plans to operate a fleet of 16 737-300s, three 737-200s and 16 Airbus A319s, for a total of 35 aircraft.
"We are pleased to continue with our Airbus transition plan on a timeline very similar to our original A318 introduction plan and now with an airframe and engine type standard with our A319s," said President and COO Jeff Potter.
In conjunction with this announcement, the airline provided an updated capacity forecast for fiscal year 2003 on the investor relations section of its Web site (www.frontierairlines.com):
Additional sample fares are included in the chart below.