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Mar 6, 2001
Frontier Airlines' 3-for-2 Stock Split To Take Effect on March 6, 2001
DENVER (March 5, 2001) - Frontier Airlines (Nasdaq: FRNT ) today reminded its shareholders and other audiences that its 3-for-2 stock split, which the airline announced on Feb. 6, 2001, will take effect and be reflected in the price of the airline's stock tomorrow, March 6, 2001. The 3-for-2 stock split will be distributed in the form of a stock dividend on March 5, 2001 to shareholders of record as of Feb. 19, 2001. The airline's stock split results in a 50 percent increase in the number of common shares outstanding. Prior to the 3-for-2 split, the airline had 18,275,810 shares outstanding, and after the split, and as reflected tomorrow, the airline has 28,088,507 shares outstanding.
Denver-based Frontier Airlines serves 23 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 114 daily systemwide departures and arrivals. Frontier recently announced its own frequent flyer program, EarlyReturns, which offers one of the fastest return programs in the industry. In 2000, Frontier's maintenance department received the Federal Aviation Administration's highest award, the Diamond Certificate of Excellence, for the second consecutive year. The award provides special recognition to airlines that have 25 percent of eligible employees complete an advanced aircraft maintenance training program and Frontier is the only Part 121 domestic air carrier to receive 100 percent participation in the program, as it has for the past two years. Frontier provides capacity and other data and industry comparisons on its Web site, which may be viewed at http://www.frontierairlines.com .
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, 2000 and other Company filings with the Securities and Exchange Commission.