Frontier Airlines Files for Chapter 11 Bankruptcy Protection
DENVER, Apr. 11, 2008 (Thomson Financial delivered by Newstex) -- Frontier Airlines Holdings Inc. (NASDAQ:FRNT) said it has filed for Chapter 11 bankruptcy protection.
The airline said the decision was taken after its principal credit card processor unexpectedly said it would start withholding 'significant proceeds' received from the sale of Frontier tickets, which threatened to severely impact the carrier's liquidity.
The company said it expects to continue operating a full schedule of flights and will honor tickets and reservations and will provide refunds and exchanges as usual.
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