DENVER-
Frontier Airlines held the line against its competitors at Denver International Airport in the first three months of 2007, despite an increase in the number of available seats, a company executive said Friday.
“Through the quarter, we held our own in markets where we directly compete with Southwest (Airlines),” John Happ, a senior vice president for Frontier Airlines Holdings Inc., told analysts during a conference call.
In March, Happ said Frontier had positive year-over-year passenger revenue per seat mile in markets where it competes against Dallas-based Southwest. Frontier also stayed even with United Airlines in overall capacity in the markets where they have compete directly, he said.
From January to March, the number of available seats rose 6.2 percent overall at Denver’s airport, where aggressive competition and lower fares have contributed to a record-setting number of passengers.
Happ spoke to analysts a day after Frontier said its fourth-quarter net loss widened, blaming the lingering effects of winter storms, higher fuel prices and fewer travelers.
For the quarter ended March 31, Frontier Airlines Holdings Inc. reported a net loss of $10.4 million, or 29 cents a share, compared with a net loss of $7.9 million, or 22 cents a share, in the same period a year ago.
The most recent results reflected a $15.1 million pretax, non-cash, mark-to-market fuel derivative gain that was offset by a non-cash valuation allowance on net deferred tax assets of $3.9 million. The special item reduced Frontier’s net loss by 14 cents a share.
In the year-ago quarter, the company reported a $100,000 unrealized fuel derivative gain and a $200,000 gain from the sale of parts and inventory. These items did not affect the per-share figure.
Quarterly revenue totaled $282.42 million, up 11 percent from $255 million in the previous fourth quarter.
Frontier’s load factor, an industry measure of seats filled, dipped to 71.1 percent from 73.5 percent in the previous fourth quarter.
Frontier’s shares dropped 14 cents to $6.15 a share in early afternoon trading Friday.
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