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Jul 11, 2001
Frontier Airlines Accelerates Aircraft Deliveries
DENVER (July 11, 2001) - Frontier Airlines (Nasdaq: FRNT) today announced it has converted two purchase options into firmly ordered Airbus A319 aircraft, and advanced their delivery dates from the third and fourth calendar quarters of 2004 to May and June 2002. The airline also converted two option aircraft without delivery dates into option aircraft with firm delivery dates in 2004. The accelerated aircraft arrivals will mark the airline’s seventh and eighth Airbus aircraft, respectively. In addition, the airline announced that it has advanced the return of a leased Boeing 737-300 aircraft to its owner from April 2002 to September 2001. Today’s announcement positions the airline’s current Airbus order status at 14 firmly ordered aircraft, nine option aircraft with delivery dates attached. and six additional option aircraft, with delivery dates to be determined. The airline continues to expect to operate 36 to 45 Airbus aircraft by early 2005, and has filed a Report on Form 8-K/A with the Securities and Exchange Commission, which provides additional details on its fleet transition.
"We are pleased to continue the Airbus transition by accelerating the return of a relatively expensive Boeing 737-300 and converting two Airbus purchase options into firm orders," said Frontier President Sam Addoms.
Denver-based Frontier Airlines serves 23 cities coast to coast with a fleet of 27 aircraft and employs approximately 2,500 aviation professionals. The airline is the second largest jet service carrier of Denver International Airport with an average of 120 daily systemwide departures and arrivals. Frontier Airlines recently introduced its own frequent flyer program, EarlyReturns, which offers one of the fastest return programs in the industry. In June 2001, Businessweek ranked Frontier 14th on its list of Hot Growth Companies. In 1999 and 2000, Frontier’s maintenance and engineering department received the Federal Aviation Administration’s highest award, the Diamond Certificate of Excellence, with 100 percent of its maintenance and engineering employees completing advanced aircraft maintenance training programs. Frontier provides capacity and other data and industry comparisons on its Web site, which may be viewed at www.frontierairlines.com.