Frontier Airlines Holdings filed its Monthly Operating Report for November 2008. Frontier reported a consolidated net profit of $2.9 million and an operating profit of $2.5 million for the month. Included in Frontier’s operating profit were non-cash mark-to-market losses on fuel hedge contracts of $2.0 million.
Frontier’s cash position increased to $53.4 million for November 2008. The Company realized net proceeds of $15.9 million from the sale of two aircraft which was offset by a $9.7 million net increase in holdbacks from the Company’s credit card processors and $1.8 million of additional net deposits in collateral posted to fuel hedge counterparties.
November’s cash balance does not include the proceeds from two aircraft sales that Frontier completed in December 2008.
