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Frontier Airlines Files For Bankruptcy

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Apr 11, 2008 6:05 am US/Central

Frontier Airlines Files For Bankruptcy

DENVER (CBS) ― Frontier Airlines filed for bankruptcy late Thursday night.

Frontier Airlines Holdings Inc. says it has filed for Chapter 11 bankruptcy protection, but plans to continue normal business operations throughout its reorganization.

The low-fare carrier said Friday the move came after an unexpected attempt by its principal credit card processor to start withholding significant proceeds from the sale of Frontier tickets, which threatened to hurt Frontier's liquidity.

Frontier CEO Sean Menke says the airline, whose major hub is in Denver, has been affected as other airlines have by rising fuel costs and the credit crisis in financial markets.

ATA Airlines, Skybus and Aloha Airgroup all have also filed for bankruptcy.


(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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