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Frontier reports $29.7M loss in latest quarter
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DENVER - Frontier Airlines Holdings Inc. says it had a consolidated net loss of $20.8 million in September and $29.7 million in its second fiscal quarter that ended Sept. 30.
Frontier says the September results included $7 million in reorganization costs, $1.4 million in tax expenses related to the amount expected to be due on the realized gain on aircraft sales, and $2.1 million in unrealized losses on fuel hedges.
Reorganization costs would have been higher but were offset in part by sales of two aircraft.
Frontier says its results have been hurt by rising fuel costs.
Frontier is workigng to emerge from Chapter 11 bankruptcy protection, which it entered in April. It has announced layoffs, cuts in its flight schedule and new labor agreements.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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