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Mar 6, 2006|
Frontier Airlines Reports Preliminary Traffic for February 2006
DENVER, March 6 /PRNewswire-FirstCall/ -- Frontier Airlines (NASDAQ: FRNT) today announced preliminary traffic results for February 2006. Revenue passenger miles increased 15.0 percent to 569,930,000 for February 2006 from the same period last year. Available seat miles increased 16.3 percent to 783,293,000 for February 2006 from the same period last year. This resulted in a load factor for February 2006 of 72.8 percent, a decrease of .8 points from February 2005, when the airline reported a load factor of 73.6 percent. The airline carried 604,651 passengers during February 2006, a 20.2 percent increase from February 2005. The airline reported passenger yield of 10.35 cents for the month of February 2006, an increase of 1 percent from the same period last year. Its passenger revenue per available seat mile was 7.53 cents, down .01 or .1 percent from February 2005. For the month of February 2006, the airline's average length of haul decreased 4.3 percent to 943 miles as compared to the same period last year.
"Our March outlook continues to look promising, however, we have seen a steady increase in fuel costs since the end of the December quarter," said Jeff Potter, President and CEO. "Additionally, our unit revenue performance in January and February was not up to expectations. We don't believe the month of March will offset the financial performance of January and February and now estimate that our results for our March quarter, although they will be an improvement over the December quarter, will fall short of earlier estimates approaching breakeven."
The following table represents comparisons for the month of February year-over-year, fiscal 2006 year-to-date, and calendar 2006 year-to-date, year-over-year traffic results.
February February Increase/ Percent 2006 2005 (Decrease) Available Seat Miles (ASM) 783,293,000 673,790,000 109,503,000 16.3% Revenue Passenger Miles 569,930,000 495,693,000 74,237,000 15.0% Load Factor 72.8% 73.6% (.8) points N/A Revenue Passengers Carried 604,651 503,071 101,580 20.2% **Passenger Yield (cents) 10.35 10.25 .10 1.0% **Passenger Revenue Per ASM (cents) 7.53 7.54 (.01) (.1%) Average Length of Haul 943 985 (42) (4.3%) Fiscal Fiscal Year-to-Date Year-to-Date Increase/ 2006 2005 (Decrease) Percent Available Seat Miles 8,979,405,000 8,305,753,000 673,652,000 8.1% Revenue Passenger Miles 6,700,047,000 5,943,968,000 756,079,000 12.7% Load Factor 74.6% 71.6% 3.0 points N/A Revenue Passengers Carried 6,992,248 6,000,177 992,071 16.5% **Passenger Yield (cents) 10.72 10.21 .51 5.0% **Passenger Revenue Per ASM (cents) 8.00 7.31 .69 9.4% Average Length of Haul 958 991 (33) (3.3%) Calendar Calendar Year-to-Date Year-to-Date Increase/ 2006 2005 (Decrease) Percent Available Seat Miles 1,653,325,000 1,442,842,000 210,483,000 14.6% Revenue Passenger Miles 1,144,954,000 1,015,553,000 129,401,000 12.7% Load Factor 69.3% 70.4% (1.1 points) N/A Revenue Passengers Carried 1,208,300 1,022,308 185,992 18.2% **Passenger Yield (cents) 10.50 10.20 .30 2.9% **Passenger Revenue Per ASM (cents) 7.27 7.18 .09 1.3% Average Length of Haul 948 993 (45) (4.5%) Frontier's fiscal year begins April 1 and ends March 31.
**Passenger yield and passenger revenue per available seat mile are calculated from revenue derived only from the mainline revenue passengers reported in this press release.
Currently in its 12th year of operations, Denver-based Frontier Airlines is the second largest jet service carrier at Denver International Airport, employing approximately 4,600 aviation professionals. With 50 aircraft and 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 47 destinations in 28 states spanning the nation from coast to coast and to seven cities in Mexico. Frontier's maintenance and engineering department has received the Federal Aviation Administration's highest award, the Diamond Certificate of Excellence, in recognition of 100 percent of its maintenance and engineering employees completing advanced aircraft maintenance training programs, for seven consecutive years. In July 2005, Frontier ranked as one of the "Top 10 Domestic Airlines" as determined by readers of Travel & Leisure magazine. Frontier provides capacity information and other operating statistics on its Web site, which may be viewed 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, an 8-K filed on December, 28, 2005, the Company's Form 10-K for its fiscal year ended March 31, 2005 and the Company's Form 10-Q for the quarter ended September 30, 2005.
SOURCE: Frontier Airlines
CONTACT: Joe Hodas of Frontier Airlines, +1-720-374-4504,
Web site: http://www.frontierairlines.com/