Frontier Airlines Holdings, Inc. (NASDAQ:FRNT) announced preliminary traffic results for March 2008 for both Frontier's mainline operation as well as its wholly owned subsidiary, Lynx Aviation. Lynx Aviation commenced revenue service in December 2007. As such, only the current month, fiscal year ended and three months ended March 31, 2008 for the current year are presented for Lynx Aviation in the text and table below.
Mainline Results
Mainline revenue passenger miles increased 14.7 percent to 942,369,000 for March 2008 from the same period last year. Mainline available seat miles increased 4.5 percent to 1,117,237,000 for March 2008 from the same period last year. This resulted in a record mainline load factor for March 2008 of 84.4 percent, an increase of 7.6 points from March 2007, when the airline reported a mainline load factor of 76.8 percent. The airline carried 953,078 mainline passengers during March 2008, a 10.1 percent increase from March 2007. The airline reported mainline passenger yield of 11.81 cents for the month of March 2008, an increase of 0.7 percent from the same period last year. Its mainline passenger revenue per available seat mile was 9.96 cents, up .95 or 10.5 percent from March 2007.
"The results posted for the month of March are reflective of the progressive changes we are making in realigning our network to drive traffic and revenue improvements," said Sean Menke, President and CEO. "Our mainline unit revenue performance for March, as well as the quarter, is the best we have had in over five years. I am extremely proud of the efforts put forth by the Frontier team in establishing record traffic, revenue and load factor for the month."
Lynx Aviation Results
For March 2008, Lynx Aviation reported revenue passenger miles of 38,332,000 and available seat miles of 54,082,000. This resulted in a load factor for March 2008 of 70.9 percent. Lynx Aviation carried 86,594 passengers during March 2008, generating passenger yield of 19.38 cents. Lynx Aviation passenger revenue per available seat mile was 13.74 cents and its average length of haul was 443 miles for March 2008.
The following tables represent comparisons for the month of March year-over-year, fiscal 2008 year ended March 31, 2008, and three months ended March 31, 2008, year-over-year traffic results for Frontier's mainline operations and for Frontier Airlines Holding's, Inc. wholly owned subsidiary, Lynx Aviation.
Frontier Mainline
March 2008 March 2007 Increase Percent
/(Decrease)
Available Seat
Miles (ASM) 1,117,237,000 1,068,833,000 48,404,000 4.5%
Revenue Passenger
Miles 942,369,000 821,335,000 121,034,000 14.7%
Load Factor 84.4% 76.8% 7.6 points N/A
Revenue Passengers
Carried 953,078 866,004 87,074 10.1%
**Passenger Yield
(cents) 11.81 11.72 .09 0.7%
**Passenger Revenue
Per ASM (cents) 9.96 9.01 .95 10.5%
Average Length of Haul 989 948 41 4.3%
Three Months Three Months Increase Percent
Ended 3/31/08 Ended 3/31/07 /(Decrease)
Available Seat
Miles 3,114,427,000 2,937,034,000 177,393,000 6.0%
Revenue Passenger
Miles 2,440,783,000 2,089,189,000 351,594,000 16.8%
Load Factor 78.4% 71.1% 7.3 points N/A
Revenue Passengers
Carried 2,476,778 2,222,524 254,254 11.4%
**Passenger Yield
(cents) 10.77 10.86 (0.09) (0.8%)
**Passenger Revenue
Per ASM (cents) 8.44 7.73 .71 9.2%
Average Length of Haul 985 940 45 4.8%
Fiscal Year- Fiscal Year- Increase Percent
Ended 3/31/08 Ended 3/31/07 /(Decrease)
Available Seat
Miles 12,666,316,000 11,310,070,000 1,356,246,000 12.0%
Revenue Passenger
Miles 10,175,220,000 8,532,577,000 1,642,643,000 19.3%
Load Factor 80.3% 75.4% 4.9 points N/A
Revenue Passengers
Carried 10,621,583 9,140,157 1,481,426 16.2%
**Passenger Yield
(cents) 10.83 10.99 (.16) (1.5%)
**Passenger Revenue
Per ASM (cents) 8.70 8.29 .41 4.9%
Average Length of Haul 958 934 24 2.6%
Lynx Aviation
March 2008 March 2007 Increase Percent
/(Decrease)
Available Seat
Miles (ASM) 54,082,000 NA NA NA
Revenue Passenger
Miles 38,332,000 NA NA NA
Load Factor 70.9% NA NA NA
Revenue Passengers
Carried 86,594 NA NA NA
**Passenger Yield
(cents) 19.38 NA NA NA
**Passenger Revenue
Per ASM (cents) 13.74 NA NA NA
Average Length of Haul 443 NA NA NA
Three Months Three Months Increase Percent
Ended 3/31/08 Ended 3/31/07 /(Decrease)
Available Seat
Miles 148,225,000 NA NA NA
Revenue Passenger
Miles 89,555,000 NA NA NA
Load Factor 60.4% NA NA NA
Revenue Passengers
Carried 202,452 NA NA NA
**Passenger Yield
(cents) 18.23 NA NA NA
**Passenger Revenue
Per ASM (cents) 11.02 NA NA NA
Average Length of Haul 442 NA NA NA
Fiscal Year- Fiscal Year- Increase Percent
Ended 3/31/08 Ended 3/31/07 /(Decrease)
Available Seat
Miles 169,721,000 NA NA NA
Revenue Passenger
Miles 103,196,000 NA NA NA
Load Factor 60.8% NA NA NA
Revenue Passengers
Carried 233,581 NA NA NA
**Passenger Yield
(cents) 18.40 NA NA NA
**Passenger Revenue
Per ASM (cents) 11.19 NA NA NA
Average Length of Haul 442 NA NA NA
Frontier's fiscal year begins April 1 and ends March 31.
**Passenger yield and passenger revenue per available seat mile are
calculated from revenue derived only from the mainline revenue
passengers reported in this press release.
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