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Mar 12, 1999
Frontier Airlines to Lease Additional Aircraft
DENVER (March 12, 1999) - Frontier Airlines (NASDAQ: FRNT ) today announced it has entered into an aircraft lease agreement for two Boeing 737-200 Advanced jets from San Francisco-based Triton Aviation Services Limited. In addition, the airline announced it has signed Letters of Intent to lease two Boeing 737-300 aircraft from Sweden-based Indigo Aviation. Terms of the agreements were not disclosed.
Three of the aircraft acquisitions will be used to replace three 108-seat 737-200 Basic airplanes that do not meet the FAA's Stage 3 noise-reduction compliance regulations and which the company plans to return when their leases expire at the end of July 1999. The fourth aircraft will be used as a fleet addition beginning with the peak summer travel period. The two Boeing 737-200 Advanced aircraft will be configured with 119 seats and are scheduled for an April 15 delivery date. The two Boeing 737-300 aircraft will be configured with 136 seats and are scheduled for March 31 and May 1 delivery dates, respectively.
"Frontier has already become the second largest jet user of Denver International Airport, the nation's eighth busiest airport. Retiring three Stage 2 Basic 200s, as well as realizing one new aircraft in anticipation of the upcoming peak summer travel months, furthers our plan to grow in a strategic yet prudent manner," said Frontier President Sam Addoms.
Frontier's current fleet consists of nine 737-300s and eight 737-200s. Prior to the July 31 retirement of the three Basic 200s, the additional aircraft announced today will be used for charters and as operational spare aircraft.
Denver-based Frontier Airlines commenced operations on July 5, 1994. Unlike other airlines, Frontier's low fares do not have a Saturday night stay requirement. In addition, Frontier offers frequent flier mileage points in Continental Airlines' OnePass program. The airline currently serves 19 cities coast to coast with a fleet of 17 Boeing 737 jets and employs approximately 1,300 travel professionals. Frontier's Web site may be viewed at http://www.frontierairlines.com .