On Thursday Frontier Airlines reported third-quarter net income of $5.5 million, the third consecutive quarter the discount carrier has posted a profit. The Denver-based company attributed the profit of 14 cents a share to a busy holiday season. Frontier reported a $6.4 million loss, or 21 cents a share, for the same period a year ago. "In a quarter that has seen very few airlines report profitable results, we are very pleased to report our third consecutive profitable quarter," said Jeff Potter, Frontier president and chief executive officer.
The third-quarter net income included the write-off of deferred loan costs of $1.1 million for prepaying the remaining $11.6 million balance of a government guaranteed loan. Frontier said it was the first and, so far, only airline to repay the loan.
Is this the sign of good times ahead for Frontier?