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Jan 8, 2007|
Frontier Airlines Reports Preliminary Traffic for December 2006
DENVER, Jan. 8 /PRNewswire-FirstCall/ -- Frontier Airlines (NASDAQ: FRNT) today announced preliminary traffic results for December 2006. Revenue passenger miles decreased 2.2 percent to 606,723,000 for December 2006 from the same period last year. Available seat miles increased 1.7 percent to 889,373,000 for December 2006 from the same period last year. This resulted in a load factor for December 2006 of 68.2 percent, a decrease of 2.7 points from December 2005, when the airline reported a load factor of 70.9 percent. The airline carried 639,213 passengers during December 2006, a 0.5 percent decrease from December 2005. The airline reported passenger yield of 11.38 cents for the month of December 2006, a decrease of 1.3 percent from the same period last year. Its passenger revenue per available seat mile was 7.76 cents, down .42 or 5.1 percent from December 2005. For the month of December 2006, the airline's average length of haul decreased 1.7 percent to 949 miles as compared to the same period last year.
"December passenger revenue performance was negatively impacted by approximately $11 million due to two major December snowstorms, one of which completely shut down our primary hub, Denver International Airport (DIA), for almost 48 hours," said Jeff Potter, President and CEO of Frontier Airlines. "In addition, while we are unable to provide a definitive snowstorm cost estimate at this time, we do anticipate that there will be significant variable expenses, such as glycol expense ($1.1 million in storm related costs), partially offset by variable costs we didn't incur while the airport was shut down. Combined with these net additional storm related expenses, our loss of storm related available seat miles (ASMs) in the December quarter will result in higher unit costs than previously anticipated."
The following table represents comparisons for the month of December year-over-year, calendar 2006 year-over-year, fiscal 2007 year-over-year, and the quarter ended December 31, 2006 year-over-year traffic results.
Increase/ December 2006 December 2005 (Decrease) Percent Available Seat Miles (ASM) 889,373,000 874,804,000 14,569,000 1.70% Revenue Passenger Miles 606,723,000 620,416,000 (13,693,000) (2.2%) Load Factor 68.2% 70.9% (2.7) points N/A Revenue Passengers Carried 639,213 642,663 (3,450) (0.5%) **Passenger Yield (cents) 11.38 11.53 (.15) (1.3%) **Passenger Revenue Per ASM (cents) 7.76 8.18 (.42) (5.1%) Average Length of Haul 949 965 (16) (1.7%) Calendar Year- Calendar Year- Increase/ to-Date 2006 to-Date 2005 (Decrease) Percent Available Seat Miles 10,932,555,000 9,579,037,000 1,353,518,000 14.10% Revenue Passenger Miles 8,325,125,000 7,214,267,000 1,110,858,000 15.40% Load Factor 76.2% 75.3% 0.9 points N/A Revenue Passengers Carried 8,897,520 7,459,420 1,438,100 19.30% **Passenger Yield (cents) 10.96 10.75 .21 2.00% **Passenger Revenue Per ASM (cents) 8.35 8.09 .26 3.20% Average Length of Haul 936 967 (31) (3.2%) Fiscal Year-to- Fiscal Year-to- Increase/ Date 2007 Date 2006 (Decrease) Percent Available Seat Miles 8,373,036,000 7,326,080,000 1,046,956,000 14.3% Revenue Passenger Miles 6,443,388,000 5,555,093,000 888,295,000 16.0% Load Factor 77.0% 75.8% 1.2 points N/A Revenue Passengers Carried 6,917,633 5,783,948 1,133,685 19.6% **Passenger Yield (cents) 11.03 10.77 .26 2.4% **Passenger Revenue Per ASM (cents) 8.49 8.16 .33 4.0% Average Length of Haul 931 960 (29) (3.0%) Quarter Ended Quarter Ended Increase/ Dec. 31, 2006 Dec. 31, 2005 (Decrease) Percent Available Seat Miles 2,694,959,000 2,461,668,000 233,291,000 9.5% Revenue Passenger Miles 1,919,890,000 1,774,114,000 145,776,000 8.2% Load Factor 71.2% 72.1% (0.9) points N/A Revenue Passengers Carried 2,085,712 1,872,199 213,513 11.4% **Passenger Yield (cents) 11.05 11.05 0 0.00% **Passenger Revenue Per ASM (cents) 7.87 7.96 (0.09) (1.1%) Average Length of Haul 920 948 (28) (3.0%) Frontier's fiscal year begins April 1 and ends March 31.
**Passenger yield and passenger revenue per available seat mile is calculated from revenue derived only from the mainline revenue passengers reported in this press release.
About Frontier Airlines Holdings, Inc.
Frontier Airlines Holdings, Inc. is the parent company of Denver-based Frontier Airlines. Currently in its 13th year of operations, Frontier Airlines is the second largest jet service carrier at Denver International Airport, employing approximately 5,000 aviation professionals. With 55 aircraft and one of the youngest Airbus fleet in North America, Frontier offers 24 channels of DIRECTV® service in every seatback along with 33 inches of legroom in an all coach configuration. In conjunction with Frontier JetExpress operated by Horizon Air, Frontier operates routes linking its Denver hub to 55 destinations including 46 U.S. cities in 28 states spanning the nation from coast to coast, eight cities in Mexico and one city in Canada. In November of 2006, Frontier and AirTran announced a first-of-its-kind integrated marketing partnership that offers travelers the ability to reach more than 80 destinations across four countries with low fares, aboard two of the youngest fleets in the industry. In December of 2006 Frontier was designated "Best Low Cost Carrier" in the U.S. by the readers of Business Traveler magazine. For more in-depth information on Frontier Airlines, please visit our website at http://www.frontierairlines.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements contained in this press release that are not historical facts may be forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could result in actual results differing materially from expected results and represent the Company's expectations and beliefs concerning future events based on information available to the Company as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release. Additional information regarding risk factors that may affect future performance at the Company are contained in the Company's SEC filings, including without limitation, the Company's Form 10-K for its fiscal year ended March 31, 2006 and the Company's Form 10-Q for the quarter ended September 30, 2006.
SOURCE: Frontier Airlines
CONTACT: Joe Hodas of Frontier Airlines, +1-720-374-4504,
Web site: http://www.frontierairlines.com/