Frontier Reports $27.9 Million Loss in January

Frontier Airlines Holdings, Inc. filed its Monthly Operating Report for January 2009. Frontier reported an operating profit of $2.8 million and a consolidated net loss of $27.9 million for the month.

Excluding reorganization items and mark-to-market fuel hedge transactions, Frontier would have reported an operating loss of $0.4 million and a consolidated net loss of $2.8 million.

Frontier’s January results included reorganization costs of $28.3 million, the majority of which consisted of unsecured claims allowed by the court; a realized loss of fuel hedge contracts of $4.3 million partially offset by a mark-to-market gain of $1.1 million on fuel hedging activity; mainline capacity reduction of 13.3 percent year-over-year; and mainline unit cost excluding fuel (CASM ex-fuel) was 6.03 cents, down 8.1 percent from previous year.

The company reported a mainline total unit cost reduction of 20.1 percent versus previous year, and mainline passenger revenue (PRASM) increase of 1.1 percent versus the previous year. It reported a mainline total unit revenue (RASM) increase of 4.4 percent versus previous year.