NEWS & MEDIA
|All News Releases >||General News >|
May 9, 2001
Frontier Airlines Announces Aircraft Financing with PK AIRFINANCE
DENVER (May 9, 2001) - Frontier Airlines (Nasdaq: FRNT ) today announced that PK AIRFINANCE, a world leader in commercial aircraft financing and a wholly owned subsidiary of GE Capital Corporation, has arranged a financing facility for an undisclosed amount for Frontier Airlines' acquisition of three new Airbus A319-100 aircraft. The first of the three aircraft to be financed under the facility was delivered today by Airbus to Frontier and will enter Frontier's schedule in June.
"Frontier's new Airbus aircraft fuselage is approximately seven inches wider than the airline's current fleet," explained Director of Aircraft Management Mike Fay. "This enabled us to put an extra inch of space in each of the six seats (Frontier's A319 configuration contains 22 rows of seats, with six seats across in each row) and an additional approximate inch of space in the center aisle. The seat pitch on Frontier's new aircraft, or space between the back of one seat and the back of the seat in front of it, will equal 33 inches, which exceeds most airline's economy class seat configuration."
About GE Capital: GE Capital, with assets of more than US$370 billion, is a global, diversified financial services company grouped into six key operating segments comprised of 24 businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, Connecticut, provides a variety of consumer services, such as credit cards and life and auto insurance; mid-market financing; specialized financing; specialty insurance; equipment management, and specialized services, to businesses and individuals in 47 countries around the world. GE is a diversified services, technology and manufacturing company with operations worldwide.
About Frontier Airlines: Denver-based Frontier Airlines serves 22 cities coast to coast with a fleet of 25 Boeing 737 jets and employs approximately 2,400 aviation professionals. The airline is the second largest jet service carrier of Denver International Airport with an average of 112 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 2000, Zagat's Airline Survey ranked Frontier Airlines as one of the top ten domestic air carriers based on comfort, service and food. 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 http://www.frontierairlines.com .