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Sep 17, 2001|
Frontier Airlines Reports August Traffic
DENVER (September 17 2001) - Frontier Airlines (Nasdaq: FRNT ) Frontier Airlines (Nasdaq: FRNT) today announced traffic results for August 2001. Revenue passenger miles (RPMs) increased to 279,634,000 for August 2001, an increase of 2.3 percent from the same period last year. Available seat miles (ASMs) increased 438,555,000 for August 2001, an increase of 20.0 percent from the same period last year. This resulted in a load factor for August 2001 of 63.8 percent, a decrease of 11.0 points from August 2000, when the airline reported a load factor of 74.8 percent. The airline carried 305,494 passengers during August 2001, an increase of 3.3 percent from August 2000. For the airline’s fiscal year-to-date, revenue passenger miles increased 14.9 percent on increased capacity of 17.0 percent, which resulted in a load factor of 67.2 percent. The airline reported an average fare of $134 for the month of Aug. 2001, a 14.1 percent decrease from August 2000 when the airline’s average fare was $156. In conjunction with today’s August traffic and average fare results, the airline has updated the investor relations section on its Web site, which can be accessed at www.frontierairlines.com.
Frontier Chief Executive Sam Addoms stated, “Looking back on August prior to the events of last week, our 20 percent capacity increase during August 2001 reflected a larger increase in capacity than most of the industry. Additionally, our August 2000 traffic was positively impacted by the operational difficulties experienced by a major competitor. Obviously, in light of the recent national tragedy, our August numbers shed little light on our growth plans or strategy going forward. Last week’s events have produced a different business climate and our industry will be required to respond in many, many ways. Our focus going forward will include rebuilding the public’s confidence in our air system, decreasing costs and conserving cash.”
The following table represents comparisons for August, fiscal year-to-date and calendar year-to-date traffic results.