Frontier Airlines (Nasdaq: FRNT) today announced preliminary traffic results for October 2002. Revenue passenger miles (RPMs) increased 79.3 percent to 287,516,000 for October 2002 from the same period last year. Available seat miles (ASMs) increased 51.5 percent to 511,271,000 for October 2002 from the same period last year. This resulted in a load factor for October 2002 of 56.2 percent, an increase of 8.7 points from October 2001. The airline carried 312,267 passengers during October 2002. The airline reported an average fare of $112 for the month of October 2002, a 12.5 percent decrease from October 2001, when the airlineå‘s average fare was $128. Comparisons with 2001 traffic and capacity information reflect a decrease in the demand for air travel and a reduction in capacity after the events of Sept. 11, 2001.
According to Sean Menke, vice president of marketing and planning: “We were encouraged by the slightly stronger traffic and average fare improvement we experienced during October. Holiday bookings appear strong based on the information we’ve seen thus far, and we look forward to inaugurating service to Cancun and Mazatlan, Mexico in December.”
Denver-based Frontier Airlines employs approximately 3,000 aviation professionals and is the second largest jet service carrier at Denver International Airport. The airline offers service to 37 cities with a fleet of 34 aircraft, which feature a single-class configuration. 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.