Frontier Airlines reports $17.8M July profit

Frontier Airlines Holdings maintained its successful ways in July, reporting its ninth straight month of operating profit Thursday.


Frontier

Frontier Airlines, which will soon become a unit of Republic Airways, reported a July net profit of $17.8 million.

The Denver-based airline holding company said its consolidated operating profit for July was $24.9 million, up from $1.2 million in the same month of 2008. Its June 2009 operating profit was $14.2 million.

Frontier reported consolidated net income in July of $17.8 million versus a net loss of $3.2 million in the year-ago month.

In a statement, Frontier President/CEO Sean Menke termed his company’s July results “absolutely outstanding.”

He said Frontier’s success in returning to profitability and a low cost structure in recent months is reflected in the fact that two companies — Republic and Southwest Airlines– bid to acquire the Denver carrier in a bankruptcy auction.

Republic won out, and Frontier said it expects to emerge from bankruptcy in late September as a wholly-owned subsidiary of Indianapolis-based Republic.

Denver officials have been trying to convince Republic to keep Frontier’s headquarters and its nearly 5,000 employees in Denver. Republic CEO Bryan Bedford was scheduled to visit Denver Thursday.