Frontier Airlines (FRNTQ) Reports Operating Profit for August
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Frontier Airlines Holdings, Inc. (OTCBB: FRNTQ) reported an operating profit of $10.2 million for the month of August. The Company also reported a net loss of $2.0 million, due to expenses associated with its bankruptcy case. The results were filed in the Company's unaudited Monthly Operating Report for August 2009.
Frontier reported a consolidated operating profit of $10.2 million for the month of August 2009, compared to an operating income of $3.3 million for the same period in 2008, and a total consolidated net loss of $2.0 million compared to a net loss of $5.6 million for August 2008. Excluding special items, the Company would have reported net income of $10.2 million, or a net margin of 10.0 percent, in August 2009, compared to net income of $1.2 million, or a margin of 0.9 percent, in 2008. Excluding special items, the operating profit for the month was $11.9 million versus an operating profit of $3.4 million in August 2008.
Special items for the month of August 2009 included $10.5 million of reorganization expense, compared to $6.5 million in August 2008.
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