NEWS & MEDIA
|All News Releases >||General News >|
Jun 1, 2001
Frontier Airlines Announces First Fiscal Quarter Earnings Estimate
DENVER (June 1, 2001) - Frontier Airlines (Nasdaq: FRNT) today announced that it expects its earnings per share (EPS) for its first fiscal quarter ending June 30, 2001 to fall within the range of $0.28 and $0.38 per fully diluted share, as compared to $0.57 per fully diluted share for the same period last year adjusted for the Company's 3-for-2 stock dividend. The airline reported total revenue per available seat mile (RASM) of 10.94 cents for the month of April 2001; operating cost per available seat mile excluding fuel (CASM ex fuel) of 8.44 cents; and fuel cost per available seat mile of 1.46 cents. This resulted in a total cost per available seat mile (CASM) of 9.90 cents. The airline's average fare for the month of April 2001 was $138, a decrease of 5.5 percent from April 2000, when the airline's average fare was $146.
"Although April traffic was very strong, softening close-in bookings are likely to produce a load factor in May slightly below last year's levels. We are also experiencing a decrease in our yields as passengers opt for the many sale fare opportunities in the marketplace. It seems apparent that the value market continues to expand as a result of the weakening economy, and as a result, Frontier continues to enjoy relatively strong demand by value-oriented consumers," said Frontier President Sam Addoms. "In addition, we anticipate that our costs for the Airbus transition will peak in our current June quarter. Overall, our costs should moderate in the September and subsequent quarters. We remain optimistic about Frontier's performance relative to other carriers in our industry."
Frontier provides capacity and other data and industry comparisons on its Web site, which may be viewed at www.frontierairlines.com. The historical information, earnings estimates and other projections contained herein and on the airline's Web site speak only as of June 1, 2001 and are not being made as of any later date, unless noted. Shareholders and other interested parties are advised to check the airline's Web site for updated information. The historical information is subject to review and adjustment, and earnings estimates and other projected information are subject to review and adjustment and all the risks and uncertainties associated with projections. Actual results may differ materially. See the cautionary language below.
All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe, intend or anticipate will or may occur in the future, are forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "may," "estimate," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, could differ materially from those set forth in or contemplated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed in "Risk Factors" in our Form 10-K for the year ended March 31, 2001, which the Company plans to file before June 30, 2001. 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 March 31, 2000; the Company's Form 8-K filed May 7, 2001; the Company's Form 10-Q for its fiscal third quarter 2001 and the Company's Form 8-K filed Jan. 22, 2001, and other Company filings with the Securities and Exchange Commission.