Frontier reports October net loss of $20.5 million
December 1, 2008
DENVER ” Frontier Airlines Holdings Inc. has reported a net loss of $20.5 million for October as the company works to emerge from bankruptcy protection, citing large losses stemming from fuel hedging activities and reorganization.
Denver-based Frontier said Friday the October results included $7.4 million in mark-to-market losses on fuel hedges plus $1.5 million in reorganization expenses. Without those, Frontier’s loss would have totaled $11.6 million.
The company’s operating loss amounted to $15.9 million.
Frontier President and CEO Sean Menke says the October figures were reflective of “a seasonally low month for the airline industry,” but that the performance was “in accordance with our plan.”
Frontier filed for Chapter 11 bankruptcy protection in April.