Frontier Airlines reports May net profit of $1.1 million
Frontier Airlines Holdings, Inc. today (June 25, 2009) reported a net profit of $1.1 million for the month of May and its seventh consecutive monthly operating profit. The results were filed in the Company’s unaudited Monthly Operating Report for May 2009.
Frontier reported a consolidated operating profit of $11.7 million for the month of May 2009, compared to an operating loss of $16.5 million for the same period in 2008, and a total consolidated net income of $1.1 million compared to a net loss of $22.0 million for May 2008.
Excluding special items, the Company would have reported net income of $5.6 million, or a net margin of 6.3 percent in May 2009, compared to a net loss of $4.9 million, or a negative margin of 4.1 percent in 2008. Excluding special items, the operating profit for the month was $7.6 million versus an operating loss of $2.5 million in May 2008.
“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.”
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