Frontier Airlines Holdings Inc. says it had a net profit of $1.1 million in May, marking the seventh straight month the company has reported gains.
"Despite continued capacity reductions and a year-over-year decline in passenger revenue, we have managed to produce an operating profit for seven consecutive months," said Frontier President and CEO Sean Menke. "The positive results for the month of May are the result of the Company's effort to be one of the lowest cost operators in North America. The dedication and efforts put forth by all employees has allowed us to achieve these results once again.”
Republic Airways Holdings announced this week that it is offering to buy Frontier for $108.8 million and take it out of bankruptcy. The Indianapolis-based company says a court-supervised auction will determine whether anyone will make a better offer.
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. 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.
