NEWS & MEDIA
|All News Releases >||General News >|
Nov 16, 1998
Frontier Airlines Selects Hanifen, Imhoff Inc. as its Key Financial Advisor
DENVER (Nov. 16, 1998) - Frontier Airlines (Nasdaq: FRNT ) today announced it has entered into a financial advisory agreement with the Denver-based investment banking firm of Hanifen, Imhoff Inc.
The relationship will include strategic counsel and investment banking advice on various corporate finance issues.
"We are very pleased to have Hanifen, Imhoff as a respected and knowledgeable resource for our company as we endeavor to enhance our institutional investor support from within our Rocky Mountain corporate home," said Frontier President Sam Addoms.
Frontier Airlines recently announced a record quarterly profit for the quarter ended September 30, 1998, when it posted a net profit of $9.9 million on revenues of $56.9 million.
Addoms continued, `"We believe our growth plan of 20 percent additional capacity on an annual basis is aggressive but pragmatic. While we expect we can internally generate the necessary funds to achieve this goal, we believe Hanifen, Imhoff is in an excellent position to help us formulate future long-term financing options because of their significant investment banking expertise and preeminent knowledge of the Rocky Mountain Western region."
"We are very pleased with our new relationship with Frontier Airlines. We believe that Frontier has the right product to compete effectively and that the carrier's strong operating performance and deliberate growth plans will allow it to continue to build its high- quality, low-fare service. Frontier Airlines is a tremendous asset for the Rocky Mountain Region, and we look forward to working with them," said Hanifen, Imhoff Director of Corporate Finance Bill Dunn.
Since its founding in 1960, Hanifen, Imhoff Inc. has grown to become the leading full-service investment bank headquartered in the Rocky Mountain Region.
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. Effective mid-December 1998, the airline will serve 19 cities coast to coast with a fleet of 17 Boeing 737 jets. The airline employs approximately 1,100 travel professionals. Frontier's website may be viewed at http://www.frontierairlines.com .
Statements contained in this press release which are not historical facts are forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.