Frontier posts 6th straight monthly operating profit - Denver Business Journal:

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million net profit in April, up from a $26. 9 million loss in April 2008, the month it filef for Chapter 11bankruptcy Denver-based Frontier, the No. 2 carrier at behind United said Thursday its consolidated operating profit for Aprilwas $5 million, versus an operatint loss of $21.9 million for the same month a year ago. It was the sixtn consecutive month the airline reported anoperatintg profit. The airline files a monthly operation s report under terms of its Chapter 11 Frontier said thatexcluding $1.1 million in expenses associatexd with bankruptcy, it would have reporte d net income of $3.4 million in April, or a net margihn of 4 percent.
"Once again, for the sixtj month in a row, we have seen the payof f of our year-long restructuring and cost-reduction efforts," Frontiere President/CEO Sean Menke said in a "We have driven our operating coste to among the lowest inthe industry, givingv us the cost structure needed to produce operating profitabl for the last six months in one of the most competitive marketa in the country and during one the most difficulft economies in nearly 80 years." Frontier reportefd April passenger revenue per seat mile (its averagwe revenue from flying one passenger one of 8.51 cents, down 2.1 perceny from a year earlier. That was despite a 12.
3 percenty decline in total passengers in April from the same montj ayear ago, as Frontier reported earlier this and a drop in revenue passenger miles for the month of 17.5 But Frontier also has cut capacity over the last year by sellinyg off planes and has sharply trimmeds costs. Its costs per seat mile for the monthwere 8.49 down 19.5 cents, and its unit costs excludinyg fuel were 6.24 down 1.4 percent. A bankruptcy-courrt judge last week gave Frontieruntio Oct. 9 to submit a reorganizatioj plan for the airline to emerge fromChapter 11. The companyy has been talking toexit financiers.