Frontier Airlines Receives Court Approval for First Day Motions
April 11 2008 - 6:53PM
PR Newswire (US)
Orders Will Allow Frontier to Operate Flight Schedule, Honor
Tickets and Reservations, Maintain Frequent Flyer Program, and
Provide Pay and Benefits to Employees DENVER, April 11
/PRNewswire-FirstCall/ -- Frontier Airlines Holdings, Inc.
(NASDAQ:FRNT) today announced that Judge Robert D. Drain of the
U.S. Bankruptcy Court for the Southern District of New York has
approved the "first day motions" that Frontier and its subsidiaries
submitted as part of their voluntary filing for reorganization
under Chapter 11 of the U.S. Bankruptcy Code. Approval of these
critical motions helps to ensure Frontier's ability to conduct
normal business operations during the reorganization. Frontier has
received authorization to: -- Provide employee wages, healthcare
coverage, vacation, sick leave and similar benefits without
interruption. -- Honor pre-petition obligations to customers and
continue customer programs including its EarlyReturns
frequent-flyer program. -- Pay for fuel under existing fuel supply
contracts, and honor existing fuel supply, distribution and storage
agreements. -- Honor contracts relating to interline agreements
with other airlines. -- Pay pre-petition obligations to foreign
vendors, foreign service providers and foreign governments. --
Continue maintenance of existing bank accounts and existing cash
management systems. "We are grateful that Judge Drain granted the
critical first day motions that will enable Frontier to continue
normal operations," said Sean Menke, Frontier President and CEO.
"Importantly, the aviation professionals of Frontier are focused
today -- and will be throughout the Chapter 11 process -- on
delivering exceptional customer service. Our reorganization is off
to a smooth start and we look forward to taking important steps to
further strengthen our Company." Frontier and its subsidiaries
filed to reorganize under Chapter 11 on April 10, 2008, in the U.S.
Bankruptcy Court for the Southern District of New York. The case
number is 08-11298 (RDD). More information about Frontier's Chapter
11 filing is available on the Internet at
http://frontierairlines.com/restructure. Court filings and claims
information are available at
http://chapter11.epiqsystems.com/frontier. About Frontier Airlines
Holdings, Inc. Frontier Airlines Holdings, Inc. is the parent
company of Denver-based Frontier Airlines. Currently in its 14th
year of operations, Frontier Airlines is the second-largest jet
service carrier at Denver International Airport, employing
approximately 6,000 aviation professionals. Frontier Airline's
mainline operation has 62 aircraft with one of the youngest Airbus
fleets in North America. Frontier Airline's mainline operations
offers 24 channels of DIRECTV(R) service in every seatback along
with a comfortable all coach configuration. In conjunction with its
regional jet fleet, operated by Republic Airlines, and a fleet of
ten Bombardier Q-400 aircraft operated by Lynx Aviation (a
subsidiary of Frontier Airlines Holdings, Inc.), Frontier offers
routes linking its Denver hub to 70 destinations, including 62 U.S.
cities in 36 states spanning the nation from coast to coast; six
cities in Mexico; one in Canada and one in Costa Rica. In November
2006, Frontier and AirTran announced a first-of-its-kind integrated
marketing partnership that offers travelers the ability to reach
more than 80 destinations across four countries with low fares,
aboard two of the youngest fleets in the industry. For more
in-depth information on Frontier Airlines, please visit its Web
site at 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, 2007. DATASOURCE:
Frontier Airlines Holdings, Inc. CONTACT: Frontier Media Relations,
+1-720-374-4560, , or Frontier Investor Relations, +1-720-374-2907,
, both of Frontier Airlines Holdings, Inc. Web site:
http://www.frontierairlines.com/
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