DENVER (July 9, 2002) - Frontier Airlines (Nasdaq: FRNT) today announced preliminary traffic results for June 2002. Revenue passenger miles (RPMs) increased 5.5 percent to 302,621,000 for June 2002 from the same period last year. Available seat miles (ASMs) increased 17.3 percent to 468,211,000 for June 2002 from the same period last year. This resulted in a load factor for June 2002 of 64.6 percent, a decrease of 7.3 points from June 2001, when the airline reported a load factor of 71.9 percent. The airline carried 325,876 passengers during June 2002, a 3.8 percent increase from June 2001. The airline reported an average fare of $105 for the month of June 2002, a 21.1 percent decrease from June 2001 when the airline`s average fare was $133.
For the airline`s fiscal first fiscal 2003 quarter, revenue passenger miles increased 10.7 percent on increased capacity of 19.2 percent. This resulted in a load factor of 62.8 percent for the airline`s first fiscal 2003 quarter compared to a load factor of 67.6 percent for the same quarter in the prior year. The airline reported an average fare of $108 for the first fiscal 2003 quarter, a 19.4 percent decrease from the same quarter in the prior year when the airline`s average fare was $134.
Vice President of Marketing and Planning Sean Menke stated: “We continue to seek ways of improving our yield performance, including conducting an ongoing, thorough analysis of current travel demand trends, identifying potential marketing opportunities and further strengthening the Frontier brand. Our internal focus also includes an aggressive cost containment strategy with the goal of further lowering unit costs.”
Currently in its ninth year of operations, Denver-based Frontier Airlines is the second largest jet service carrier at Denver International Airport with a fleet of 33 aircraft and employing approximately 3,000 aviation professionals. Frontier and its affiliate Frontier JetExpress currently serve 34 U.S. cities with 170 daily flights. In 1999, 2000 and 2001, Frontier`s maintenance and engineering department received the Federal Aviation Administration`s highest award, the Diamond Certificate of Excellence, in recognition of 100 percent of its maintenance and engineering employees completing advanced aircraft maintenance training programs. In April 2002, Entrepreneur ranked Frontier one of two “Best Low-Fare Airlines,” and in September 2001, Fortune ranked Frontier 41st on its 100 Fastest Growing Companies list. Frontier provides capacity information and other operating statistics on its Web site, which may be viewed at www.frontierairlines.com.