Reaction to Frontier Airlines Holding Inc.’s Chapter 11 bankruptcy petition filing:
“This change in established practices would have represented a material change to our cash forecasts and business plans. Unchecked, it would have put severe restraints on Frontier’s liquidity and would have made it impossible for us to continue normal operations.”—Frontier CEO Sean Menke.
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“We regret that the current economic conditions have led to today’s bankruptcy filing by Frontier Airlines. First Data, with our bank partners, processes transactions for a variety of businesses around the world. We continually monitor and manage the credit risks associated with processing transactions in industries where we provide services. The terms of our agreement with Frontier Airlines are not unique; they are considered standard industry practice and terms originally agreed upon by Frontier. We have been in ongoing dialogue with Frontier Airlines for several months and will continue to work with them in as constructive a manner as possible.”—First Data Corp.
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“Had it not been for First Data, we really had our act together. I really think we’re headed in the right direction. We’ve got a good relationship with the company.”—John Stemmler of the Frontier Airline Pilots Association.
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“We wish it wasn’t happening right now because we really felt that we were getting ready to turn some corners.”—Frontier Airline employee Jerome Staverosky.
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“As long as they keep flying, it is not going to cause problems.”—Frontier passenger Preston Tucker, 19, a University of Colorado student.
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“It’s obviously a business in which every carrier is under stress and will have to rely on some of its cash to carry it through.”—Aviation industry analyst Robert Mann.
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“It is a surprise. When rumors start, it can kill an airline.”—Aviation industry analyst Mike Boyd.
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“Frontier has been tripped up by a unique and likely short-lived financial circumstance. They are a great local company with thousands of dedicated employees who have the skills and expertise to succeed in this competitive industry. Just as our community supported United Airlines during its bankruptcy restructuring, recognizing that a competitive marketplace benefits everyone, we expect they will also support Frontier.”—Denver Mayor John Hickenlooper.
