DENVER—Frontier Airlines Holdings reported a $30.4 million second-quarter loss, citing a nearly 73 percent jump in fuel costs and expenses from reorganization.
Frontier, which filed for Chapter 11 bankruptcy in April, said Friday that $16.6 million of the loss was due to costs of reorganization. The Denver-based carrier says a $70 million increase in fuel costs from the same period a year ago also contributed.
Last year, Frontier recorded a second-quarter net income of $17.3 million.
Frontier President and CEO Sam Menke said the airline is following its business plan to emerge from bankruptcy.
The airline’s cash and short-term investments totaled $76 million, down from $129 million at the end of March.
Revenues dropped 2.5 percent to $364 million from the same period a year ago. Frontier reported an operating loss of $5.8 million, compared with a profit of $22.8 million a year ago.
———
Information from: Rocky Mountain News,
