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Frontier Airlines Reports Preliminary Traffic for March 2009

April 6, 2009

DENVER, April 6 /PRNewswire-FirstCall/ — Frontier Airlines Holdings, Inc. (Pink Sheets: FRNTQ) today announced preliminary traffic results for March 2009 for both Frontier’s mainline operation and its wholly-owned subsidiary, Lynx Aviation. Lynx commenced revenue service in December 2007.

Mainline Results for March 2009:

  • Revenue passenger miles decreased 24.0 percent to 716,094,000 and capacity (as measured by available seat miles) was down 19.7 percent to 897,642,000 from the same period last year. This resulted in a load factor of 79.8 percent, a decrease of 4.6 points over March 2008.
  • Passenger yield was 10.49 cents, down 1.32 cents or 11.2 percent from March 2008.
  • Passenger unit revenue decreased 16.0 percent to 8.37 cents.
  • The airline carried 797,999 passengers, a 16.3 percent decrease from the same period last year.
  • The airline’s average length of haul decreased 9.3 percent to 897 miles.

Lynx Aviation Results for March 2009:

  • Revenue passenger miles decreased 26.7 percent to 28,098,000 and capacity was down 11.6 percent to 47,795,000. This resulted in a load factor for March 2009 of 58.8 percent, a decrease of 12.1 points over March 2008.
  • Passenger yield was 21.47 cents, up 2.09 cents or 10.8 percent from the same period last year.
  • Passenger unit revenue decreased 8.2 percent to 12.62 cents.
  • Lynx carried 81,273 passengers, a 6.1 percent decrease from March 2008.
  • The airline’s average length of haul decreased 21.2 percent to 346 miles.

The following tables represent comparisons for the month of March year-over-year, three months-ended and fiscal year-ended traffic results for Frontier’s mainline operations and for Lynx.

    Mainline

                                                          Increase/
                           March 2009     March 2008     (Decrease)   Percent
    Available Seat
     Miles                897,642,000  1,117,237,000  (219,595,000)    (19.7%)
    Revenue Passenger
     Miles                716,094,000    942,369,000  (226,275,000)    (24.0%)
    Load Factor                  79.8%          84.4%  (4.6 points)       NA
    Revenue Passengers
     Carried                  797,999        953,078      (155,079)    (16.3%)
    **Passenger Yield
     (cents)                    10.49          11.81         (1.32)    (11.2%)
    **Passenger Revenue Per
     Avail. Seat Mile (cents)    8.37           9.96         (1.59)    (16.0%)
    Average Length of Haul        897            989           (92)     (9.3%)

                          Three            Three
                       Months-Ended     Months-Ended    Increase/
                          3/31/2009       3/31/2008    (Decrease)     Percent
    Available Seat
     Miles            2,609,597,000   3,114,427,000  (504,830,000)     (16.2%)
    Revenue Passenger
     Miles            1,945,776,000   2,440,783,000  (495,007,000)     (20.3%)
    Load Factor                74.6%           78.4%  (3.8 points)        NA
    Revenue Passengers
     Carried              2,159,374       2,476,778      (317,404)     (12.8%)
    **Passenger Yield
     (cents)                  10.27           10.77         (0.50)      (4.6%)
    **Passenger Revenue Per
     Avail. Seat Mile
     (cents)                   7.65            8.44         (0.79)      (9.4%)
    Average Length
     of Haul                    901             985           (84)      (8.5%)

                         Fiscal           Fiscal
                        Year-Ended      Year-Ended        Increase/
                        3/31/2009        3/31/2008       (Decrease)   Percent
    Available Seat
     Miles         11,472,976,000   12,666,316,000  (1,193,340,000)     (9.4%)
    Revenue Passenger
     Miles          9,342,400,000   10,175,220,000    (832,820,000)     (8.2%)
    Load Factor              81.4%            80.3%     1.1 points        NA
    Revenue Passengers
     Carried           10,261,429       10,621,583        (360,154)     (3.4%)
    **Passenger Yield
     (cents)                10.84            10.83            0.01       0.1%
    **Passenger Revenue Per
     Avail. Seat Mile
     (cents)                 8.82             8.70            0.12       1.4%
    Average Length
     of Haul                  910              958             (48)     (5.0%)
    Lynx Aviation

                                                          Increase/
                       March 2009        March 2008      (Decrease)    Percent
    Available Seat
     Miles (ASM)       47,795,000        54,082,000     (6,287,000)    (11.6%)
    Revenue Passenger
     Miles             28,098,000        38,332,000    (10,234,000)    (26.7%)
    Load Factor              58.8%             70.9%  (12.1 points)       NA
    Revenue Passengers
     Carried               81,273            86,594         (5,321)     (6.1%)
    **Passenger Yield
     (cents)                21.47             19.38           2.09      10.8%
    **Passenger Revenue Per
     ASM (cents)            12.62             13.74          (1.12)     (8.2%)
    Average Length
     of Haul                  346               443            (94)    (21.2%)

                          Three          Three
                       Months-Ended   Months-Ended      Increase/
                         3/31/2009      3/31/2008      (Decrease)     Percent
    Available Seat
     Miles             136,745,000    148,225,000    (11,480,000)       (7.7%)
    Revenue Passenger
     Miles              73,461,000     89,555,000    (16,094,000)      (18.0%)
    Load Factor               53.7%          60.4%   (6.7 points)         NA
    Revenue Passengers
     Carried               213,659        202,452         11,207         5.5%
    **Passenger Yield
     (cents)                 21.70          18.23           3.47        19.0%
    **Passenger Revenue Per
     ASM (cents)             11.66          11.02           0.64         5.8%
    Average Length
     of Haul                   344            442            (98)      (22.2%)

                         Fiscal          Fiscal
                       Year-Ended       Year-Ended     Increase/
                       3/31/2009        3/31/2008     (Decrease)       Percent
    Available Seat
     Miles           575,007,000      169,721,000   405,286,000        238.8%
    Revenue Passenger
     Miles           347,544,000      103,196,000   244,348,000        236.8%
    Load Factor             60.4%            60.8%  (0.4 points)          NA
    Revenue Passengers
     Carried             994,873          233,581       761,292        325.9%
    **Passenger Yield
     (cents)               22.15            18.40          3.75         20.4%
    **Passenger Revenue Per
     Avail. Seat Mile
     (cents)               13.39            11.19          2.20         19.7%
    Average Length
     of Haul                 349              442           (93)       (21.0%)

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 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 approximately 5,000 aviation professionals. Frontier Airlines’ mainline operation has 51 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.

SOURCE Frontier Airlines Holdings, Inc.


Source: newswire



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