Frontier Airlines Reports Record Preliminary Traffic for December 2008

Airline sees record load factor for the month and quarter

DENVER, Jan. 6 /PRNewswire-FirstCall/ — Frontier Airlines Holdings, Inc. (OTC Bulletin Board: FRNTQ) today announced preliminary traffic results for December 2008 for both Frontier’s mainline operation as well as its wholly-owned subsidiary, Lynx Aviation. Lynx commenced revenue service in December 2007.

Mainline Results for December 2008:

• Frontier Airlines reported a load factor of 79.5 percent, an increase of 6.9 points over December 2007 and a company record for both the month and the December 2008 quarter.
• Passenger unit revenue was 9.34 cents, up 0.95 cents or 11.3 percent from December 2007.
• Passenger yield was 11.75 cents, a 1.7 percent increase from the same period last year.
• Revenue passenger miles decreased 9.7 percent to 721,217,000 and capacity (as measured by available seat miles) was down 17.5 percent to 907,211,000 from the same period last year.
• The airline carried 800,609 passengers, a 1.0 percent decrease from December 2007.
• The airline’s average length of haul decreased 8.8 percent to 901 miles, compared to the same period last year.

Lynx Aviation Results for December 2008:

• Lynx Aviation reported revenue passenger miles of 30,360,000 and available seat miles of 47,849,000. This resulted in a load factor for December 2008 of 63.5 percent.
• Lynx carried 86,458 passengers, with a passenger yield of 23.06 cents.
• Passenger revenue per available seat mile was 14.63 cents with an average length of haul of 351 miles in December 2008.

The following tables represent comparisons for the month of December year-over-year, fiscal year-to-date, calendar year-to-date, and quarter-end traffic results for Frontier’s mainline operations and for Lynx Aviation.

Mainline

               December 2008    December 2007    Increase/(Decrease) Percent
    Available
      Seat
     Miles      907,211,000     1,099,556,000       (192,345,000)   (17.5%)
    Revenue
     Passenger
     Miles      721,217,000       798,754,000        (77,537,000)    (9.7%)
    Load
     Factor           79.5%             72.6%         6.9 points        NA
    Revenue
     Passengers
     Carried        800,609           808,765             (8,156)    (1.0%)
    **Passenger
     Yield (cents)    11.75             11.55                0.2      1.7%
    **Passenger
     Revenue Per
     Avail. Seat
     Mile (cents)      9.34              8.39               0.95     11.3%
    Average Length
     of Haul            901               988                (87)    (8.8%)

            Fiscal Year-to-   Fiscal Year-to-   Increase/(Decrease)  Percent
               Date 2009         Date 2008
    Available
     Seat
     Miles    8,863,379,000     9,551,889,000       (688,510,000)    (7.2%)
    Revenue
     Passenger
     Miles    7,396,624,000     7,734,437,000       (337,813,000)    (4.4%)
    Load
     Factor           83.5%             81.0%         2.5 points        NA
    Revenue
     Passengers
     Carried      8,102,055         8,144,805            (42,750)    (0.5%)
    **Passenger
     Yield
     (cents)          10.99             10.84               0.15      1.4%
    **Passenger
     Revenue Per
     Avail. Seat
     Mile
      (cents)          9.17              8.78               0.39      4.4%
    Average
     Length
     of Haul            913               950                (37)    (3.9%)

              Calendar Year     Calendar Year   Increase/(Decrease)  Percent
                  2008              2007
    Available
     Seat
     Miles   11,977,806,000    12,488,923,000       (511,117,000)    (4.1%)
    Revenue
     Passenger
     Miles    9,837,407,000     9,823,626,000         13,781,000      0.1%
    Load
     Factor           82.1%             78.7%         3.4 points        NA
    Revenue
     Passengers
     Carried     10,578,833        10,367,329            211,504      2.0%
    **Passenger
     Yield (cents)    10.93             10.85               0.08      0.7%
    **Passenger
     Revenue Per
     Avail. Seat
     Mile (cents)      8.98              8.53               0.45      5.3%
    Average Length
     of Haul            930               948                (18)    (1.9%)

             Quarter Ended      Quarter Ended    Increase/(Decrease)  Percent
             Dec. 31, 2008      Dec. 31, 2007
    Available
     Seat
     Miles    2,631,944,000      3,133,507,000      (501,563,000)    (16.0%)
    Revenue
     Passenger
     Miles    2,121,028,000      2,404,926,000      (283,898,000)    (11.8%)
    Load
     Factor           80.6%              76.8%        3.8 points         NA
    Revenue
     Passengers
     Carried      2,386,814          2,521,316          (134,502)     (5.3%)
    **Passenger
     Yield
     (cents)          10.99              10.92       0.07 points       0.6%
    **Passenger
     Revenue
     Per ASM
     (cents)           8.85               8.38              0.47       5.6%
    Average
     Length of
     Haul               889               954                (65)     (6.8%)

Lynx Aviation

               December 2008    December 2007   Increase/(Decrease)  Percent
    Available
     Seat
     Miles
     (ASM)       47,849,000       21,496,000          26,353,000     122.6%
    Revenue
     Passenger
     Miles       30,360,000       13,641,000          16,719,000     122.6%
    Load
     Factor           63.5%            63.5%            0 points         NA
    Revenue
     Passengers
     Carried         86,458           31,129              55,329     177.7%
    **Passenger
     Yield
     (cents)          23.06            19.49                3.57      18.3%
    **Passenger
     Revenue
     Per ASM
     (cents)          14.63            12.37                2.26      18.3%
    Average
     Length of
     Haul               351              438                 (87)    (19.9%)

                    Fiscal        Fiscal       Increase/(Decrease) Percent
                 Year-to-Date   Year-to-Date
                     2009          2008
    Available
     Seat
     Miles        438,262,000       NA                  NA            NA
    Revenue
     Passenger
     Miles        274,083,000       NA                  NA            NA
    Load
     Factor             62.5%       NA                  NA            NA
    Revenue
     Passengers
     Carried          781,214       NA                  NA            NA
    **Passenger
     Yield
     (cents)            22.27       NA                  NA            NA
    **Passenger
     Revenue
     Per ASM
     (cents)            13.93       NA                  NA            NA
    Average
     Length of
     Haul                 351       NA                  NA            NA

                     Calendar      Calendar    Increase/(Decrease) Percent
                   Year-to-Date   Year-to-Date
                       2008          2007
    Available
     Seat
     Miles          586,487,000       NA               NA             NA
    Revenue
     Passenger
     Miles          363,638,000       NA               NA             NA
    Load
     Factor               62.0%       NA               NA             NA
    Revenue
     Passengers
     Carried            983,666       NA               NA             NA
    **Passenger
     Yield
     (cents)              21.28       NA               NA             NA
    **Passenger
     Revenue Per
     ASM (cents)          13.19       NA               NA             NA
    Average Length
     of Haul                370       NA               NA             NA

               Quarter Ended    Quarter Ended   Increase/(Decrease) Percent
               Dec. 31, 2008    Dec. 31, 2007

    Available
     Seat
     Miles        150,568,000          NA               NA           NA
    Revenue
     Passenger
     Miles         87,652,000          NA               NA           NA
    Load
     Factor             58.2%          NA               NA           NA
    Revenue
     Passengers
     Carried          243,369          NA               NA           NA
    **Passenger
     Yield (cents)      21.81          NA               NA           NA
    **Passenger
     Revenue Per
     ASM (cents)        12.69          NA               NA           NA
    Average
     Length
     of Haul              360          NA               NA           NA

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 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 15th year of operations, Frontier Airlines is the second-largest jet service carrier at Denver International Airport, employing more than 5,000 aviation professionals. Frontier Airlines’ mainline operation has 52 aircraft with one of the youngest Airbus fleets in North America. Frontier Airlines’ mainline operations offer 24 channels of DIRECTV(R) service in every seatback along with a comfortable all-coach configuration. In conjunction with a fleet of ten Bombardier Q400 aircraft operated by Lynx Aviation (a subsidiary of Frontier Airlines Holdings, Inc.), Frontier offers routes to more than 50 destinations in the U.S., Mexico and Costa Rica. For more in-depth information on Frontier Airlines, please visit its Web site at 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, 2008.

Web site: FrontierAirlines.com

SOURCE Frontier Airlines Holdings, Inc.