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Sep 28, 2001
Frontier Airlines Adds Two Airbus A319s to its Fleet
DENVER (Sept. 28, 2001) - Frontier Airlines (Nasdaq: FRNT ) today announced it has added two Airbus 132-seat A319 aircraft to its operating certificate. The airline entered into an aircraft lease agreement for its fourth Airbus A319 jet from GE Capital Aviation Services, and purchased its fifth Airbus A319 with financing arranged through PK AIRFINANCE, a wholly owned subsidiary of GE Capital Corporation, at a fixed interest rate of approximately six percent. The aircraft will be available for service immediately. With today's announcement, Frontier’s fleet consists of 17 737-300s, seven 737-200s and five Airbus A319s, for a total of 29 aircraft.
“Our Airbus transition remains on track at the present time, and we plan to continue transitioning our fleet in spite of our recently announced capacity reduction of nearly 20 percent, which will reduce the utilization of our older Boeing 737-200 aircraft, ” said Frontier President and Chief Operating Officer Jeff Potter. “With lower operating costs, greater fuel burn efficiencies and superb cabin comfort features, we must look forward and plan for Frontier’s long-term success as we do our part to rebuild confidence in air travel.”
Denver-based Frontier Airlines is the second largest jet service carrier at Denver International Airport, serving 23 cities coast to coast with a fleet of 29 aircraft and employing approximately 2,200 aviation professionals. In June 2001, BusinessWeek ranked Frontier 14th on its list of Hot Growth Companies and in September 2001, Fortune magazine ranked Frontier 41st on its 100 Fastest Growing Companies list. Frontier provides capacity and other data and industry comparisons on its Web site, which may be viewed at www.frontierairlines.com.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements and certain information contained in this press release involves risks and uncertainties that could result in actual results differing materially from expected results. Forward-looking statements represent the Company’s expectations and beliefs concerning future events, based on information available to the Company as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release. Additional information regarding these and other factors may be contained in the Company’s SEC filings, including without limitation, the Company’s Form 10-K for its fiscal year ended March 31, 2001; the Company’s Form 10-Q for the quarter ended June 30, 2001; the Company’s Form 8-K filed May 7, 2001 and the Company’s Form 8-K filed January 22, 2001, as amended by the Company’s Form 8-K/A filed July 11, 2001.