Frontier Airlines Reveals Fiscal Year 2005 Results

Frontier Airlines reported a net loss of $23.4 million, or $0.66 per diluted common share, for its fiscal year ended March 31, 2005. This compares to net income of $12.6 million, or $0.36 per diluted common share for the previous fiscal year.

For the airline´s fiscal fourth quarter ended March 31, 2005, the airline reported a net loss of $3.7 million, or $0.10 per diluted common share, compared to a net loss of $5.8 million, or $0.16 per diluted common share, for the same period last year.

The fiscal fourth quarter 2005 results, on a pre-tax basis, includes a $2.4 million unrealized fuel derivative gain and a $0.4 million gain from the sale of spare parts and inventory. These items, net of income taxes, reduced the Company´s net loss by $.05 per diluted share.

Given the continuing lack of relief from extremely high fuel prices in the current quarter, and an April snow storm in Denver that caused the cancellation of almost a full day of service, the company expects to post a loss for the first quarter of fiscal 2006 in the range of its fourth quarter fiscal 2005 loss, excluding special items.