| Type | Airline Holding Company (Pink Sheets: FRNTQ) |
|---|---|
| Founded | April 03, 2006 |
| Headquarters | USA |
| Industry | Transportation |
| Products | Airline Services |
Frontier Airlines Holdings, Inc. (Pink Sheets: FRNTQ) is a United States based airline holding company. The company has headquarters in Denver, Colorado.
Contents |
Airline Holdings
Airline divisions and operations
| Frontier Airlines Holdings |
IATA: |
ICAO: |
Call Sign: |
Airline or contracted regional airline operating flights for or flying in brand colors of: | Codeshares with, flight numbers ranging: | Number and type of aircraft | Number of Seats: |
|---|---|---|---|---|---|---|---|
| Frontier Airlines | F9 | FFT | FRONTIER FLIGHT | Frontier Airlines | Great Lakes (ZK) 5001 - 5999 Lynx Aviation (L4) 3001 - 3999 |
09 Airbus A318-110 39 Airbus A319-100 04 Airbus A320-200 |
120 132 - 136 162 |
| Lynx Aviation | L4 | SSX | SHASTA | Frontier Airlines Operated by Lynx Aviation | 11 Bombardier Q400 (+10 options) |
70-74 (70 in aircraft with ski bins) |
History
The company was formed from a reorganization of Frontier Airlines on April 3, 2006. Frontier created Frontier Airlines Holdings, Inc., a holding company incorporated in Delaware to take advantage of favorable tax law of "Delaware General Corporation Law" in that state. The new corporate headquarters was located in Colorado.[1]
On September 6, 2006, Frontier Holdings announced that a new division known as Lynx Aviation, would operate 10 Bombardier Q400 aircraft beginning in May 2007 as Frontier Express.[2] Service with the Q400's has been rescheduled to begin on October 1, 2007. The 'Lynx' name plays off of the tail pictures of its planes, specifically Larry the Lynx, and the fact that it "links" smaller airports to the main Denver hub.[2] One reason for the change is to help reduce costs; the company hopes the change will allow Frontier Airlines to cut costs on routes 650 miles or shorter by 30%, allowing entry into new markets.[2] by paying employees less.
On April 11, 2008, Frontier Airlines Holdings announced that it and all of its subsidiaries has filed for bankruptcy due to its credit card processor withholding payment from ticket sales.[3] Subsequently on August 4th, Frontier Airlines Holdings was able to announce it had lined up debtor-in-possession financing from Republic Airways Holdings in combination with various other financial lending institutions.
On August 4, 2008 Frontier Airlines Holdings, Inc. announced it is moving forward with an alternate transaction for post-petition debtor-in-possession (DIP) financing. Republic Airways Holdings, Inc., Credit Suisse Securities (through its affiliates), and AQR Capital (the “Lenders”), each a member of the Unsecured Creditors Committee in Frontier’s Chapter 11 Bankruptcy cases, are offering Frontier up to $75 million in DIP financing, with an immediate firm commitment and funding of $30 million. This new DIP facility provides Frontier with lower financing costs, less restrictive covenants and greater flexibility to pursue strategic opportunities without being constrained by more restrictive DIP provisions. The alternate DIP facility is subject to bankruptcy court approval and to various conditions.
References
- ^ "Frontier Airlines Fact Sheet". Frontier Airlines. http://www.frontierairlines.com/frontier/who-we-are/company-info/fact-sheet.do;jsessionid=4d84da87d4b75a829dad1ef9f5. Retrieved 2006-11-01.
- ^ a b c Yamanouchi, Kelly (2006-09-06). "Frontier thinking small to go bigger". Denver Post. http://www.denverpost.com/business/ci_4297315. Retrieved 2006-09-07.
- ^ "Frontier Airlines Files for Chapter 11 Reorganization; Normal Operations Continuing and Unaffected". Press release. 2008-04-11. http://www.frontierairlines.com/frontier/who-we-are/news-media/press-releases.do. Retrieved 2008-04-11.
External links
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