Frontier Airlines (Nasdaq: FRNT ) today announced it has signed a Letter of Intent (LOI) to lease four Boeing 737-300 jets from GE Capital Aviation Services (http://www.GECAS.com). Two of the aircraft are scheduled to enter service in February 2000 and will be used to add flight frequencies in existing cities already served by the carrier. The third aircraft is scheduled to be put into service in April 2000 and will be used to replace an existing Boeing 737-300 that is being returned to its lessor. The fourth aircraft is scheduled to be put into service in May 2000, and will be used to add flight frequencies in cities already served by the carrier or to potentially add a new market to the airline`s route system. Terms of the agreement were not disclosed.
“Today`s announcement sets the stage for our calendar year 2000 growth plans,” said Frontier President Sam Addoms. “These four aircraft will bring the total number of planes in the Frontier fleet to 23 by next summer and should help provide some initial capacity to bridge us to our Airbus aircraft transition, which is scheduled to begin in 2001.”
The airline`s current fleet consists of 13 Boeing 737-300 aircraft and seven Boeing 737-200 aircraft with an average age of 10 ? years.