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Frontier Airlines and Teamsters Union Reach Agreement on Wage and Benefit Concessions

Dépèche transmise le 6 août 2009 par Business Wire

Frontier Airlines and Teamsters Union Reach Agreement on Wage and Benefit Concessions

Frontier Airlines and Teamsters Union Reach Agreement on Wage and Benefit Concessions

DENVER--(BUSINESS WIRE)--Frontier Airlines (OTCBB: FRNTQ)and the International Brotherhood of Teamsters (IBT), Local 961, today announced entry into a consensual, long-term labor agreement and a comprehensive settlement of the Company’s litigation under Section 1113 of the Bankruptcy Code.

The agreement modifies the wage and benefit reductions Frontier obtained from its IBT-represented employees under a Bankruptcy Court order last November. The new agreement’s modified wage and benefit reductions are comparable to the consensual reductions Frontier has obtained from its other employee groups. The settlement, if ratified, also will resolve the ongoing appeals of last year’s Bankruptcy Court order.

The proposed agreement, which is endorsed and supported by IBT leadership, will now be put before Frontier's maintenance employees for a ratification vote. The IBT anticipates it will hold the ratification vote on the agreement and count ballots by Aug. 20.

“Frontier and the IBT worked together to negotiate an agreement that takes into account the best interests of Frontier, the IBT and, most importantly, all of our maintenance employees,” said Frontier President and CEO Sean Menke. “I applaud the IBT leadership for working with us to reach this agreement. It provides us with cost assurances and labor certainty as we proceed with the upcoming auction process and our anticipated emergence from bankruptcy.”

"The Teamsters Union and its members understand the importance to our members and to Frontier of this agreement,” said Matthew Fazakas, President and Principal Officer of Teamsters Local 961. “On behalf of the IBT leadership, we fully endorse this agreement and will work to achieve ratification as promptly as possible.”

About Frontier Airlines Holdings, Inc.

Frontier Airlines Holdings, Inc. is the parent company of Denver-based Frontier Airlines. Currently in its 16th year of operations, Frontier Airlines is the second-largest jet service carrier at Denver International Airport, employing approximately 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® 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 addition, Frontier and AirTran Airways operate 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.

SOURCE: Frontier Airlines Holdings, Inc.

Web site: http://www.FrontierAirlines.com/

Business Wire

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