Frontier Reports $2.4 Million Monthly Net Profit

Frontier Airlines Holdings, Inc. reported a net profit of $2.4 million and its sixth consecutive monthly operating profit. The results were filed in the company’s unaudited monthly operating report for April 2009.

For the month of April 2009, Frontier reported a consolidated operating profit of $5 million compared to an operating loss of $21.9 million for the same period in 2008, and a total consolidated net income of $2.4 million compared to a net loss of $26.9 million for April 2008.

Excluding $1.1 million in expenses directly associated with bankruptcy, the company would have reported net income of $3.4 million, or a net margin of 4 percent.

Operational results for the month of April included a 16.1 percent year-over-year mainline capacity reduction; mainline unit cost excluding fuel (CASM ex-fuel) of 6.24 cents; a reduction of 1.4 percent from the prior year; a mainline total unit cost of 8.49 cents, a reduction of 19.5 percent compared to April 2008; mainline passenger revenue (PRASM) of 8.51 cents, down 2.1 percent from the previous year; and mainline total unit revenue (RASM) 9.30 cents, a 1.3 percent increase from April 2008.

Frontier’s unrestricted cash position remained stable with a balance of $70.1 million for the period ending April 2009. Frontier said that the airline has driven its operating costs to among the lowest in the industry, giving it the cost structure needed to produce operating profitably for the last six months in one of the most competitive markets in the country.