Frontier Airlines Reports Fourth Straight Monthly Operating Profit

Solid results despite short month, struggling economy

DENVER, March 24 /PRNewswire-FirstCall/ -- Frontier Airlines Holdings, Inc.
(OTC Bulletin Board: FRNTQ) today reported an operating profit of $1.5 million
for the month of February, Frontier's fourth consecutive monthly operating
profit. Frontier also reported a consolidated net loss of $3.2 million for the
month. The results were filed in the Company's Monthly Operating Report for
February 2009.

Excluding non-cash mark-to-market fuel hedge transactions, Frontier would have
reported an operating loss of $2.6 million. Further, excluding reorganization
costs, the company would have reported a consolidated net loss of $4.8
million.

Frontier's February financial results included:
-- Reorganization costs of $2.6 million
-- A realized loss on fuel hedge contracts of $4.5 million, which was
almost completely offset by a mark-to-market gain of $4.1 million on
fuel hedging activity

Operational results for the month of February included:
-- A 15.4 percent year-over-year mainline capacity reduction
-- Mainline unit cost excluding fuel (CASM ex-fuel) of 6.45 cents, a 5.5
percent reduction from the previous year
-- Mainline total unit cost of 8.67 cents, a reduction of 13.0 percent
compared to February 2008
-- Mainline passenger revenue (PRASM) of 8.26 cents, down 3.7 percent
from
the prior year
-- Mainline total unit revenue (RASM) 9.09 cents, 1.1 percent lower than
February 2008

"February is a tough month for all airlines," said Frontier President and CEO
Sean Menke, "but despite the anticipated seasonal reduction in traffic, the
short 28-day month and the severely weakened economy, our ability to
restructure our business allows us to produce very positive results in an
extremely difficult economic environment. The continuing trend of significant
year-over-year improvement in our operating results is a clear indicator that
the aggressive cost reductions we've implemented and our additional revenue
initiatives have positioned us very well to meet the challenges of these
difficult times."

Menke pointed to the 5-plus percent decrease in the company's costs excluding
fuel on a year-over-year basis despite a more than 15 percent reduction in
capacity as proof that "the fundamentals of this company are solid." He said
that the February results and those of the previous three months "provide a
positive backdrop for our discussions with potential investors as we seek to
secure financing to emerge from bankruptcy later this year."

Companies in Chapter 11 bankruptcy protection are required to file monthly
operating reports to the U.S. Trustee in addition to quarterly reports filed
with the U.S. Securities and Exchange Commission.

A copy of the Monthly Operating Report is available at:
FrontierAirlines.com/frontier/who-we-are/investor-relations/annual-reports-sec-filings.do

About Frontier Airlines Holdings, Inc.
Frontier Airlines Holdings, Inc. is the parent company of Denver-based
Frontier Airlines. Currently in its 15th year of operations, Frontier Airlines
is the second-largest jet service carrier at Denver International Airport,
employing more than 5,000 aviation professionals. Frontier Airlines' mainline
operation has 51 aircraft with one of the youngest Airbus fleets in North
America. Frontier Airlines' mainline operations offer 24 channels of
DIRECTV(R) service in every seatback along with a comfortable all-coach
configuration. In conjunction with a fleet of ten Bombardier Q400 aircraft
operated by Lynx Aviation (a subsidiary of Frontier Airlines Holdings, Inc.),
Frontier offers routes to more than 50 destinations in the U.S., Mexico and
Costa Rica. In November 2006, Frontier and AirTran announced a
first-of-its-kind integrated marketing partnership that offers travelers the
ability to reach more than 80 destinations across four countries with low
fares aboard two of the youngest fleets in the industry. For more in-depth
information on Frontier Airlines, please visit its Web site at
FrontierAirlines.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:
Statements contained in this press release that are not historical facts may
be forward-looking statements as that item is defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements involve
risks and uncertainties that could result in actual results differing
materially from expected results and represent the Company's expectations and
beliefs concerning future events based on information available to the Company
as of the date of this press release. The Company undertakes no obligation to
publicly update or revise any forward-looking statements to reflect events or
circumstances that may arise after the date of this press release. Additional
information regarding risk factors that may affect future performance at the
Company are contained in the Company's SEC filings, including without
limitation, the Company's Form 10-K for its fiscal year ended March 31, 2008
and as updated in the Company's Form 10-Q for the quarter ended December 31,
2008.

SOURCE Frontier Airlines Holdings, Inc.

Corporate Communications of Frontier Airlines, +1-720-374-4560,
media@flyfrontier.com