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Jul 5, 1999

Frontier Airlines Celebrates Five Years of Service


DENVER (July 5, 1999) -- ; Frontier Airlines (Nasdaq: FRNT ) today celebrates five years of service. Since the airline first took flight, on July 5, 1994, nearly 5.8 million passengers have benefited from Frontier's service.

"Looking back over the past five years, the lessons learned and the challenges overcome are evident," said Frontier President Sam Addoms. "Although five years typically marks the time when an airline is no longer considered a start-up, we plan to continue operating with the same enthusiasm and tenacity that brought us to this point. This plan includes continuing to grow in a moderate way and improving our product by focusing on the most important elements of our business: Our employees and our customers."

Warnecke began his finance career as a staff accountant for Illinois-based McGaldrey, Hendrickson, a regional Certified Public Accounting firm. He also served as controller for Florida-based Carver Enterprises. In 1982, he became chief financial officer of Helm Corporation where he performed all financial, accounting and human resource duties. From 1993-1997, Warnecke served as president of Denver-based Zig Zag Company, a commercial demolition company. In 1997, Warnecke became president of Integrated Management Company where his duties included managing two actively traded hedge funds.



1994
1999
Employees
(000)
180 Employees
1,700 Employees
Passengers Carried
(000)
Carried 398,767 passengers during its first 12 months of operation
Carried 1,530,873 passengers during calendar year 1999
Markets Served
Four
21, including the airline's Boulder FreeWay Flyer shuttle service
Fleet
Two Boeing 737 aircraft
19 Boeing 737 aircraft
Revenues
First fiscal year ended March 31, 1995: operating revenues totaled $24.6 million
Fifth fiscal year ended March 31, 1999: operating revenues totaled $220.6 million
Net Profit (Loss)
First fiscal year net loss of $8.0 million
Fifth fiscal year net profit of $25.1 million*
Stock Performance
Initial public offering of 1.8 million shares of common stock priced at $4.25
Outstanding shares of common stock approximately 17.2 million; closing price as of 7/1/99 was $15 3/4
Cookies Baked by Frontier Employees for Passengers to Commemorate the Airline's Birthday
2,500 for the airline's first birthday on July 5, 1995
15,000 for the airline's fifth birthday on July 5, 1999
>

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