Frontier Airlines (Nasdaq: FRNT) today announced preliminary traffic results for September 2003. Revenue passenger miles (RPMs) increased 56.3 percent to 383,128,000 for September 2003 from the same period last year. Available seat miles (ASMs) increased 11.8 percent to 551,337,000 for September 2003 from the same period last year. This resulted in a load factor for September 2003 of 69.5 percent, an increase of 19.8 points from September 2002, when the airline reported a load factor of 49.7 percent. The airline carried 433,491 passengers during September 2003, a 61.8 percent increase from September 2002. The airline reported passenger yield of 11.15 cents for the month of September 2003, a decrease of 8.1 percent from the same period last year. Its passenger Revenue per Available Seat Mile (RASM) was 7.74 cents, up 1.71 cents or 28.4% from September 2002.
“September represented another milestone for the company in terms of carrying a record number of passengers and the highest load factor ever for this month,” stated Vice President of Marketing and Planning Sean Menke. “What is particularly important to note is that while Frontier continues to increase capacity, our customers continue to respond to our simplified fare structure and outstanding customer service, illustrated by the 56.3% year-over-year increase in revenue passenger miles.”
Currently in its tenth year of operations, Denver-based Frontier Airlines is the second largest jet service carrier at Denver International Airport with a fleet of 39 aircraft and employing approximately 3,600 aviation professionals. Frontier and its affiliate Frontier JetExpress currently serve 40 U.S. cities with 200 daily flights. Frontier`s maintenance and engineering department has 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, for four consecutive years. In August 2003, Frontier ranked as one of the “Top 10 Domestic Airlines” as determined by readers of Travel & Leisure magazine. Frontier provides capacity information and other operating statistics on its Web site, which may be viewed at www.frontierairlines.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements contained in this press release that are not historical facts may be forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could result in actual results differing materially from expected results and represent the Company`s expectations and beliefs concerning future events based on information available to the Company as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release. Additional information regarding risk factors that may affect future performance at the Company are contained in the Company`s SEC filings, including without limitation, the Company`s Form 10-K for its fiscal year ended March 31, 2003 and the Company`s Form 10-Q for the quarter ended June 30, 2003.