DENVER—Frontier Airlines has reported a net loss of $5.6 million in August as it works to emerge from bankruptcy protection, but the airline cites progress on its operating profit, cost targets and cash balance.
Frontier said Thursday it had an operating profit of $3.3 million in August and its cash and short-term investments increased to $77.8 million. The airline said it also met or exceeded cost targets.
It was the second consecutive month the carrier showed an operating profit.
Frontier President and CEO Sean Menke says the August result “clearly shows progress in our company’s bankruptcy proceedings.”
The Denver-based airline filed for Chapter 11 bankruptcy protection in April. Since then, it has announced layoffs, cuts in its flight schedule and new labor agreements.
