I-DENVER, CO (Agasti 4, 2008) - IFrontier Airlines Holdings, Inc. namuhla imemezele ukuthi iqhubekela phambili ngokuthengiselana okunye okuzoxhaswa ngezimali ngemuva kokufakwa kwezicelo zalowo okweletayo (DIP). I-Republic Airways Holdings, Inc., i-Credit Suisse Securities (ngokusebenzisa izinhlangano ezisebenzisana nayo), kanye ne-AQR Capital ("Ababolekisi"), yilungu ngalinye leKomidi Lababolekisi Abangavikelekile emacaleni okuqothuka eFrontier Isahluko 11, banikela ngeFrontier efinyelela ku- $ 75 million ku-DIP ezezimali, ngokuzibophezela ngokuqinile nokuxhaswa ngemali okungama- $ 30 million. Lesi sikhungo esisha se-DIP sihlinzeka iFrontier ngezindleko eziphansi zezezimali, izivumelwano ezingavinjelwe kakhulu kanye nokuguquguquka okukhulu kokulandela amathuba amasu ngaphandle kokuvinjelwa yimibandela ye-DIP ebekelwe imingcele. Olunye uhlelo lwe-DIP lungaphansi kwemvume yenkantolo yokuqothuka kanye nemibandela ehlukahlukene.

Ababolekisi banikeze inkampani lesi sikhungo esithuthukisiwe se-DIP kulandela imizamo eyimpumelelo yeFrontier yokwenza ngcono kakhulu ukuthengwa kwayo. Emasontweni amabili edlule, uFrontier umemezele ukuxhaswa ngezimali kwePerseus $ 75 million DIP, kuze kufinyelele ku- $ 80 million ukwengeza kwemali ngokuthengiswa kwezindiza kuVTB Leasing yokuqashisela phambili iRossiya Airlines nokunye ukuthengiselana kokuthengiswa kwezindiza.

"Isivumelwano samalungu eKomidi lethu Lababolekisi Abangavikelekile sokwengeza lesi sibophezelo sezezimali siyivoti elikhulu lokuzethemba enkampanini yethu nasezinhlelweni zayo zebhizinisi," kusho uSean Menke, umongameli waseFrontier kanye nesikhulu esiphezulu. "Ngemuva kokuhlolisisa lesi siphakamiso siphikisana nesiphakamiso uPerseus asinikeze ngesonto eledlule, sikholwa ukuthi lesi sivumelwano esisha sinikeza ukufinyelela ngokushesha kwemali ethe xaxa ngaphansi kwemigomo evumayo."

Ngemuva kokuvunyelwa yinkantolo, ababolekisi bazohlinzeka ngemali esheshayo engu- $ 30 million ukuxhasa izidingo zemali yeFrontier. Ababolekisi bazocubungula ukuxhasa imali eyengeziwe eyizigidi ezingama- $ 45 ngokuya ngemigomo nemibandela Yesivumelwano Sezikweletu se-DIP.

Imali ehlongozwayo ye-DIP, kuhambisana nezimemezelo zakamuva zeFrontier zokuthengiswa kwezindiza nokuqashiswa kwezindiza, kulindeleke ukuthi zikhulise kakhulu isikhundla semali yeFrontier futhi inikeze imali eyanele yokusebenza kwemisebenzi yenkampani, kanye namandla amakhulu okuhlala emakethe. Lezi zinhlelo ezimenyezelwe zokukhokha imali zivumela inkampani ukuthi iqhubeke nokusebenza ekuthuthukisweni kwebhizinisi layo, igxile ekusetshenzisweni kwemikhumbi, ukonga izindleko kanye nokwenza ngcono imali. IFrontier izoqhubeka nokuhlola amathuba amasu kusetshenzelwa lesi sakhiwo esisha se-DIP kanye nentuthuko ekulindeleke ukuthi ibe ngcono ebhalansini leFrontier.

IFrontier kanye nabasizi bayo bafaka izicelo zokuzithandela zokuhlelwa kabusha ngaphansi kweSahluko 11 se-US Bankruptcy Code ngo-Ephreli 10, 2008. Umeluleki omkhulu wokuqothuka kukaFrontier nguDavis Polk & Wardwell.

LOKHO ONGAKUTHATHE KULESI SIHLOKO:

, Credit Suisse Securities (through its affiliates), and AQR Capital (the “Lenders”), each a member of the Unsecured Creditors Committee in Frontier’s Chapter 11 Bankruptcy cases, are offering Frontier up to $75 million in DIP financing, with an immediate firm commitment and funding of $30 million.
The proposed DIP funding, coupled with Frontier’s recent announcements of aircraft sales and sale leasebacks, is expected to substantially increase Frontier’s cash position and provide sufficient working capital for the company’s operations, as well as significant staying power in the market.
Over the past two weeks, Frontier announced the Perseus $75 million DIP financing, up to $80 million in additional liquidity through aircraft sales to VTB Leasing for onward lease to Rossiya Airlines and other aircraft sale leaseback transactions.